Over the decades, investors and traders of the Indian stock market have been making use of diverse trading software applications for trading purposes. Such software is used for technical analysis of products like futures, stocks, currencies, and options. In a trading analysis app, users are able to find different modules for order placement management and assessing the profitable ways of making an investment in a business.
Moreover, it has options like technical and fundamental analysis attached to it. Besides, a user is also able to implement automated trading via this trading analysis app. When an individual, whether he or she is a beginner or a professional, starts trading in the stock market, they may need help from a technical analysis app for correcting and choosing the right market trends while entering and exiting the market at the right time.
This article will offer an idea of some of the best stock trading analysis app for the Indian stock market. But first, one must get a better idea of stock trading and the importance of trading software.
A general idea of stock trading – Its working mechanism
Generally speaking, stock trading refers to the form of investing that focuses on prioritizing short-term profits above gains in the long run. It may pose a risky for an individual if he or she dives into the stock market trading without any proper knowledge beforehand.
Two common types of stock trading are:
Active trading
This is a strategy used by investors where the reliance is heavily on the timing of the market, taking advantage of the short-term events and turning them into profits in the coming future.
Day trading
It is another strategy where traders and investors buy, sell and close their positions of the same stock during the same day of trading. Again, little care is taken about the inner mechanisms of the underlying business. The aim of any day trader is to make a certain amount of amount in the next few minutes, hours if days, on the basis of the daily price fluctuations.
Considering best trading app for technical analysis – How it works for the Indian stock market?
Any trader and investor can make use of the trading software application for automating trading abilities and systems. In addition, options like data charts, proprietary tools, chatrooms, and indicators are available for carrying out any necessary technical analysis.
Some of the important features that are crucial for a trader or investor to make wise investment decisions are:
- Scanning tools – to research about the stocks in the markets and the related ups and downs in it.
- Customized charts – helps to forecast the stock pattern on the basis of the latest and the past stock data.
- Reports – developed by third parties in general for research purposes within the stock market.
- Updated news – keeps the user updated about the latest stock market news from reliable sources.
- Data monitoring – helps users to make logical trading choices from a list of the company’s quarterly reports and stock prices.
Best Trading Analysis App for Indian stock market trading
Several technical analysis apps are available for users to get valid information related to the share market for its research and analysis.
The Android PlayStore is one of the largest and most popular app stores that offer several trading analysis apps. However, most traders and investors have a hard time trying to figure out the technical analysis app that suits most of their needs.
Let’s run through some of India’s best apps for stock trading analysis.
Stockedge
It is known as the best trading analysis app for the share market. As a unique platform for traders and investors, the focus is solely on analytics and research. It allows traders to conduct self-research using essential tools. Common areas of analysis are technical research, fundamental research, and derivatives research to understand the framework. The learning section of the app is suitable for users to learn about different aspects of the stock market while analyzing the market data at the same time.
Not to forget, it has become the fastest growing platform for equity market research and analytics. Most of the data is accumulated from NSE and BSE for this purpose. Moreover, it offers users with updates, visualizations, alerts, and statistics, helping them make better judgements.
The StockEdge scans are a delight. They have a myriad of scans to let their users help in choosing their desirable and best stocks. The scans include Fundamental Scans, Technical Scans, Options Scans, Price Scans, and more. Moreover, under each primary scan, the users get to filter stocks even further with secondary scans.
The Investor section is a boon for investors and traders who want to take their portfolios to the next level. You can follow stock market giants, learn their research and analysis techniques to filter stocks, and make your future investments better too. Nonetheless, StockEdge is an essential stock market trading analysis app every investor must-have.
Moneycontrol
Another trading analysis app topping the list is Moneycontrol. It offers relevant market news and updates on the smartphone app. Besides, it offers a technical viewpoint on stocks that are listed in the stock market reports.
This money control application is pretty basic even though it has a large amount of information and updates to offer. With this app at hand, remain updated about the Indian as well as the global stock and share market at the same time.
Some of the notable features are allowing users to track Sensex and Nifty indices, futures, stocks, mutual funds, options, currencies, and commodities from the MCX, NSE, BSE, and NCDEX exchanges. Besides, users receive a technical view on handling stocks and indices.
Trading View
This is a great trading analysis app that has a social network of around30 million investors and traders across the globe. The best options trading analysis app offers great charting and analytical tools to discover the available share market opportunities. Investors get to follow their cherished assets, chat with other professionals and get relevant trading ideas via this app. Additionally, the app allows users to detect the ongoing market trends and execute the trades straight onto their charts through this platform.
A large database consisting of the fundamental data allows users to go through the main stock exchanges. Features like pre-built studies, collection of tools and over 50 advanced drawing solutions help to get a in-depth market research that covers most of the common trading ideas.
Investing.com
It is the best app for trading analysis offering a global financial market platform to its traders and investors. It provides data in real-time, financial tools, charts, breaking news, and analysis of around 250 exchanges in about 44 languages.
This application has been ranked amongst the top three financial websites across the globe, with over 180 million visits and 21 million monthly subscribers. Users are free to access the trending global financial tools like notification and real-time quotations.
Besides, personal notifications, customizable portfolios, calculators, calendars, and financial insights are also available for users. Not to forget, this platform covers commodities and cryptocurrencies as well.
Tickertape
It is essentially a stock screener app for screening companies based on technical and fundamental characteristics. Additionally, this application works as a market mood index. It basically acts as a sentimental indicator for the stock market in India. The user also gets to learn from this website about the basic financial and economic terminology.
All of the aspects mentioned above helps users to create their own screener criteria. The traders and investors also get access to the complete app by paying a six-month or a year subscription fee.
Bottom line
A trading analysis app is becoming increasingly popular amongst traders and investors these days. This article has covered some of the best technical analysis apps for the Indian stock market.
No matter how much time is spent learning the stock market fundamentals and researching them, they may experience ups and downs in stock trading. To get a grip on the stock market game, technical analysis software applications are the best choice.
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