Pavan 5th Dec 2023
Technical glitches have become common in the Stock Market, whenever the market moves or gets a trading opportunity then it’s likely to get technical glitches, the biggest and nowadays it has become common to get technical glitches on Zerodha and some other brokers with huge client networks on their platforms.
Today Nifty, Banknifty and the overall stock market hit an all-time high following the BJP’s remarkable victory in three major state’s assembly elections – Madhya Pradesh, Rajasthan and Chhattisgarh with a high majority like never before in these states and this came before the 2024 General Elections of India.
Zerodha, India’s largest discount brokerage firm, faced technical glitches that made much retail trade lose the opportunity to trade in the market also many clients were struck with their positions which created a panic situation among retail trading communities and many users took Twitter or X social platform to express their feeling and kept wait for hours before the problem was solved by the brokerage firm.
Zerodha promptly acknowledged the issue, informing the user to log in to Zerodha’s kite mobile app since their kite website is not working and will be resolved within one hour and also stated that this issue came after recent changes in the database system.
Here's a preliminary update on today's issue with login. This was due to a recent update to our IP database over the weekend, which resulted in changes to the recorded locations of many users. This update triggered emails to users that they were logging in from a new location/IP…
— Zerodha (@zerodhaonline) December 4, 2023
Many times such opportunities won’t come in the stock market and missing a well-known bullish trend on indices like NIfty or Banknifty is very painful to retail clients since only 5 per cent of traders are successful and such glitches take away the hope of winning in the stock market for rest 95 per cent traders.
SEBI is the Stock Market regulator and they should track these technical glitches on priority but unfortunately, our regulator is behind retail traders and actively doing the following things
This is how Indian Stock Market, regulators, exchanges, brokers and even unquestioning traders work in India. Digest technical glitches until you get a better player to come in and one big player is coming to solve this problem and we will discuss about it in the next post.
Till then bye and Have a nice trading day ahead.