Power My Wealth is a Pune based share market advisory company. It has the sole aim of helping each participant in the stock market taste success with the help of technologically advanced powerful analytics, analysis tools, as well as, personalized recommendations.
Initiated in the year 2014, with a team of analysts of the nation and IT professionals working as a team, Power My Wealth works with you to create a practical solution to help you gain in the share market. The tools used by the professionals have proved to be useful for over a decade and the firm plans to come up with a bagful of new products for its clients that can be used from any location, on any device, and anytime during the day.
In this detailed review, we will talk about the business overview, different services, pricing, positives and negatives of Power My Wealth and see whether it is good enough for you or not.
Power My Wealth Services
Power My Wealth has a range of services available for its clients with different needs. Even before you decide to choose one of their services, it is a good idea to go through their range of services and read through the fine lines for their features.
Intraday Calls Advisory Service
As the name suggests, this service is meant for people interested in intraday dealing. Intraday trading refers to buying and selling of a specific company’s shares on the same day. Obviously, the risk factor for this type of dealing is relatively higher.
There are several features of this type of service listed below.
It is basically a Premium Commercial Advisory Service meant for Futures Traders especially in the NSE.
Calls pertaining to stock futures are given keeping a risk-reward ratio of 1:2
You can expect to get instant communication through SMS or pop-up messaging technology.
You will also get follow up messages in order to book profits or losses for relevant calls through SMS or pop-up messages.
Depending upon the daily market conditions, you may expect 3 to 5 calls each day. There may be some days wherein you may not receive any calls due to adverse conditions in the world of share trading.
Minimum capital needed to invest in order to avail this service is ₹75,000.
BTST/STBT Calls Advisory Service
BTST and STBT stand for Buy-Today-Sell-Tomorrow and Sell-Today-Buy-Tomorrow respectively. This type of service is specially designed for those of you who are interested in short-term trading operations in the NSE Stock market. Although the risk associated with short-term trading is quite high, it is not as high as intraday operations.
Some of the features Power My Wealth provides in this service have been mentioned below.
This service also falls under the Premium Commercial Advisory Service meant for Future Traders on the NSE platform.
The Stock Futures related calls are mainly given to clients within the last 30 minutes and are usually squared up in the next trading session within the first 30 to 45 minutes.
In some exceptional cases, the calls may be kept open for an extended move after revising a specific stop-loss situation.
This service has a Risk to Reward ratio of either 1:1 or 1:1.5.
On days of high volatility or unclear market views, calls pertaining to BTST are usually avoided.
Both SMS and web applications are used by them to send follow-up messages to either book profits or losses.
This service is especially suitable for those individuals or professionals who do not get enough time to track the market the entire day.
Minimum capital needed to invest in order to avail this service is ₹3,00,000.
Intraday Cash Calls Advisory Service
As indicated by the name of this service provided by Power My Wealth, Intraday Cash Calls is especially meant for those of you who are interested in opting for cash intraday trading.
This type of trading is good for those of you who have prior knowledge and experience of trading, especially in the equity cash market. The risks associated with this type of trading is moderately high. Some of the salient features of this service have been listed below.
They provide this Premium Commercial Advisory Service to clients interested in cash trading in the NSE.
The risk-reward ratio of 1:2 is kept in mind and the calls are given accordingly to the clients in the NSE cash segment.
You will receive instant communication, as well as, follow up messages to book profits or losses through the SMS or pop-up messaging technology of the advisory service provider.
Based on the market conditions, you will receive between 3 and 5 calls each day. At the same time, there may be days when you will not receive any calls. This is obviously on days when the market conditions are adverse.
You need to have a minimum trading capital of ₹1, 00, 000 and in cases of trading loses you should have a monthly cap of ₹25,000.
Positional Momentum Calls
This service is intended for positional traders, short-term traders, and F&O traders (derivatives based trading) by Power My Wealth. The risk involved in this service can be anything from high to very high.
Some of the features of this type of service have been discussed below.
Clients availing this service will receive calls from analysts namely, Mitesh Thakkar, Prakash Gaba, and Sandeep Wagle etc.
This also falls under the category of Premium Commercial Advisory Service in the NSE cash segment with a time horizon of a week to 2 weeks.
Calls are made with a Risk Reward ratio of 1:2 or 2:5
Both follow up messages and instant communications are made to clients through SMS or pop-up messaging technology.
Depending on the market conditions, you may expect a call each day.
Nifty/Bank Nifty Calls
This service is intended for Nifty or Bank Nifty Traders. This also comes with a very high-risk factor. Some of the features of this service by Power My Wealth are listed below.
BTST or Intraday calls related to Nifty or Bank Nifty are given which are intended to provide a clear trade setup along with well-defined targets or stop-loss.
Calls are especially targeted for high reward or high-risk day traders and BTST calls for position traders.
Calls with a Risk Reward ratio of 0.5% to 1% or 1.5% are made.
In order to boost profits and reduce losses, online trailing and monitoring are done.
Power My Wealth Pricing
Now let us talk about the pricing part of the different services provided by Power My Wealth. They are offering a 3 days free trial for all their services. This will help you gauge their services for a period of 3 days and then you may decide whether you wish to go ahead with them or not.
Here are the details of the pricing charged for the service plans mentioned above:
Intraday Calls Advisory Service:
They have 2 packages for this service, monthly and quarterly. For the monthly package, the price is ₹12,000 and for the quarterly package, the price is ₹30,000.
BTST/STBT Calls Advisory Service:
This service also has 2 different packages as per your needs. The first is a monthly pack which has a price of ₹8,000 and the second is a quarterly package which has a price of ₹18000.
Intraday Cash Calls Advisory Service:
The monthly package for this service comes with a price tag of ₹5,000 and the quarterly package comes with a price tag of ₹12,000.
Positional Momentum Calls:
This service comes with a quarterly package and a half-yearly package. The quarterly package has a price of ₹12,000 and the half-yearly package has a price of ₹15,000.
Nifty/Bank Nifty Calls:
As of now, the Nifty Tracker is provided free of cost to all the clients availing this service.
Now, it really depends on your preferences and based on that you may choose a plan and the corresponding frequency. However, it is better you try the free trial plan before you actually pay the advisory firm for any plan.
Power My Wealth Advantages
Listed below are some of the advantages of availing the services of Power My Wealth:
They use the latest technologies to make their clients aware of profitable situations.
They provide a decent number of calls to their clients.
The advisory firm is suitable for intra-day level traders and it further offers multiple short-term profits based plans to its clients.
Pricing, on a comparative basis, looks reasonably placed.
Power My Wealth Disadvantages
Here are some of the disadvantages of availing their services of Power My Wealth:
Provides intraday calls can be a little delayed at times, so you have to make sure to keep pushing in case that happens to you.
Some of the executives of this advisory firm have had a terrible record in the past, thus make sure you use the services of the executive who works with you during the free trial.
No mobile app offered, which is one of the necessities these days.
Just like any other service provider, Power My Wealth also has its own share of pros and cons. They have knowledgeable professionals working as a team which can help you get returns. If it is the first time for you to avail such advisory services, it is always a good idea to start off with the trial offer of 3 days and then decide whether you wish to go on with their services or look for greener pastures.
In case you are looking to get a callback from an advisory service, let us arrange one for you right away.