What is SEBI and what rules should I know as a trader?

SEBI mandates that brokers cannot give assured returns. Be suspicious of any broker or advisor guaranteeing profits — it is illegal. SEBI has a SCORES portal for registering complaints against brokers.

Key rules: 1) T+1 settlement — shares credited next day. 2) Intraday positions must be squared off by 3:20pm. 3) Position limits on F&O. 4) Insider trading is illegal and heavily penalised. 5) All brokers must be SEBI registered.