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The young investors gambling on Indian stocks

Millions of India’s citizens have piled into shares and options, egged on by online ‘finfluencers’, but regulators are sounding the alarm

“How many of you want to be rich?” Hundreds of hands shoot up at a packed conference hall in the southern Indian city of Bengaluru.

The attendees are responding to Chandan Taparia, head of derivatives research at financial group Motilal Oswal. Roaming the stage as an array of technical charts pop up on screen, Taparia shares his market trading tricks to the fixated assembly of largely young Indian men hanging on his every word and intently jotting down strategies on a recent Sunday.

“Friends, if you follow this, trust me, you won’t lose,” Taparia notes in an aside. “If you don’t take risks, you cannot survive in the market, you cannot achieve your goal,” he adds. “If you win, you can rule the world.”

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