Sebi paper skirts illegality of retail algos

A cursory look at the algo creators will show that the very purpose of algos is to offer buy/sell recommendations, often marketed by making wild claims

On December 9, the Securities and Exchange Board of India (Sebi) issued a consultation paper on retail algo trading and asked for feedback. Algorithms, or algos, are preset buy/sell rule-based decisions coded into software programmes, based on various price patterns. These programmes, when deployed through brokers, by using the Application Programming Interface (API), can act on their own in executing the trades as buy/sell signals are generated in accordance with the rules coded in the software. Algo trading has been allowed in India for more than a decade but for only institutional investors. As India went into lockdown in 2020