Every individual, trader or, investor aspires to make millions out of it when investing in the stock. However, most of them end up investing conservatively in exchange-traded funds or mutual funds. As a result, they receive an average return of only 8% a year. Learning how to invest in specific stocks can exceed the benchmark indices or the average return. Using a stock analysis website, app, software, or research tools allows traders and investors to get better at decision-making and accumulate faster trading profits.
Let this article help its readers achieve their goals by learning in-depth about India’s best stock analysis app. It will offer an insight into the chosen trading apps, their features, benefits, and drawbacks to better understand each software application.
What is stock market analysis?
The stock market analysis allows investors and traders in the identification of the intrinsic value of security before investing in a security. Stock market tips are drawn up by experts after thorough research. Stock analysts work to find out the activity of a sector, market, instrument in future.
Through stock analysis, traders and investors arrive at equity purchasing and selling decisions. Investing and trading in the markets require an understanding of past and current market data. This gives investors and traders an edge. Technical analysis and Fundamental analysis of stocks are the two types of research used for analyzing security and then valuing it.
Why is stock market analysis crucial?
Before you invest in a stock or security, it is a must that you perform thorough research. Through thorough research, you can make informed assumptions about the future performance and value of an investment. Even if you follow stock trading tips, it is highly essential to conduct some research and ensure that you are making an investment that is assured to yield you maximum returns.
When you invest in equity, it is expected that you make money upon increment in the value of the business. Therefore, when you are investing your hard-earned money, make sure that you are making wise investments that will yield you profits and make your future secure.
Importance of using a stock analysis software
Simply put, stock analysis software allows its users to get better at their investment strategies. However, it won’t magically elevate the user to the peak position.
However, such tools, apps, and websites help better understand the stock market and its functioning. Such a stock analysis website or app is suitable for day traders, beginners, or even long-term investors.
Stock analysis apps help to:
- Learn how to move with stock market fluctuations and implement strategies using the available historical data.
- Have updated information on ways to avoid emotion-based or reactionary decisions – make informed decisions based on the available statistics.
Top Stock Analysis Software – Best App for Indian Stock Market
- StockEdge
StockEdge is one of the best research and equity analytics platforms offering end-to-end statistics about the stocks in the market. Such notifications allow traders and investors of the Indian stock market to research better and make more competent judgments by themselves.
Its stock analysis website has Android and iOS versions with over a million subscribers, encouraging traders to invest further in stocks.
Features-
- Provides filtered market tracking content in the daily updates section. It includes NSE, BSE corporate announcements, stock market news, corporate actions, and forthcoming events.
- Different opportunity scans are available in the form of price scans, 52 weeks high/low, last week high/low, last month high/low or, three days price behavior.
- Offers strong historical data visualization with derivatives and FII/FPU and DII cash.
- Traders and investors can carry out sector research using available information on sector lists, companies within a sector or industry, industries within a sector gainer, losers, or price movement in the last 30 days, available in a small graphical representation.
- Beginner traders and investors can track what the big Indian investors are up to. The “My Investor Group” section within helps them to create their own investor group with multiple entities or names.
Pros-
- A wide range of analysis tools is available within its stock analysis website and app.
- Offer multiple features and stock data in real-time,
- High app performance as rated by traders and investors across India.
Cons-
- It is not possible to monitor mutual funds under any condition.
- MetaStock
This software tool or application was released in 1985 and has been a staple in stock analysis. It offers a range of tools necessary for researching stocks like a pro, with technical and fundamental analysis.
Speaking of its features, MetaStock Xenith provides fundamentals, news for data, commentary, Reuters, or industry experts in real-time.
Features-
- Allows traders to utilize their Daily Charts to receive valuable after-market analysis data. Besides, it assists traders in reaching their goals in real-time.
- It is a robust charting software that takes out statistics from global exchanges at the end of every trading day.
- The traders can bring add-on functions, plugins, and customizations separately.
- It supports over 300 technical indicators, covering a wide array of assets. It may include derivatives, equities, ETFs, forex, futures, and even commodities. Traders can easily filter necessary data from within the vast data based on their needs.
- At the core, MetaStock’s functionality includes its PowerTools. It is a set of pre-built systems allowing users to backtest their strategies, filter and scan markets, utilize the complex patent-pending technology or generate buying and selling signals. All of this helps to better forecast the probable future security performance.
Feature-
Pros-
- Vast range of analysis and scanning tools
- Robust collection of features to choose from.
- Easy to use and simple interface.
- Enables users to code indicators and trading systems.
Cons-
- Certain plans are highly-priced in comparison to its competitors.
- TradingView
It is one of the best app to invest in stock market that offers its clients the software application for free. However, it is often recommended that its users opt for the premium version to receive an extensive range of benefits, including customer priority support.
The application helps its users to access high-speed data and stock markets across the globe. If a user, trader, or investor knows how trading works, it can be a great boon for them.
Complete coverage on futures, mutual funds, bonds, ETFs, and cryptocurrency, is available within the premium package.
Features
- It is an HTML 5 application running through the cloud and is also available for PC. Upon its initial launch, the code will get downloaded automatically and smoothly run from that point.
- Provides complete integration enabling users to trade using charts and don’t need to worry about analysis. Besides, they can report care-free when reporting about their profit or loss. However, the stock trading options won’t get covered.
- It offers fundamental screening and scanning benefits. It covers real-time scanning and filtering.
Pros
- Has a simple development system.
- The software application is beginner-friendly and easy to use.
- Offers features like Publish, chart, social-first, and follow options.
- Provide exchange of data in real-time around the globe.
- High-quality screening of stocks.
- Learn about stocks, trades forex, cryptocurrency in the US and around the world.
Cons
- No news is available in real-time.
- StockRover
This software application is set on integrating with almost every large broker, including FirstTrade and Fidelity. Even though it may not be available on trading charts, the app looks after its profit and loss reports and offers relevant recommendations on portfolio rebalancing.
It is suitable for long-term investors and individuals looking for their portfolio income optimization. A peak point of the software application is its features like filtering, stock scanning, and fundamental watchlist. It’s a premium service that offers traders over 150 thoughtfully pre-built screeners, including buffettology screeners and favorite screeners.
Features-
- Using social media and news integration, this software shows Yahoo Finance and Benzinga News information. For instance, Yahoo Finance offers great news and articles about stock fluctuation.
- Using technical analysis and stock chart readings is crucial for stock trading. It focuses on the fundamental financial strength indicator charting.
- This application is quite different from other trading applications offering scanning possibilities and information. It is far better than other stock screening packages.
Pros-
- Offers advanced comparative analysis.
- Provides data support with recommendations.
- No initial installations are necessary.
- This website is available on Mac, PC, tablets, or smartphones.
- Excellent reports on certain stocks that are generated in real-time.
Cons-
- There is no research support for futures, options, forex, and cryptocurrency.
- Scan Review
It is, by far, a popular trading software application for day traders. Such stock market software focuses on data and news in real-time. As a result, the pricing plans may come in an average range while offering a good amount of money in return from the stocks.
The Chart Montage function benefits users with high data speed within this application. It is a powerful way of stock trading without making the use of charts. The trader or investor can access a wide range of trading information, for instance, second-level data and real-time news.
Features-
- It has a particular set of broker integrations enabling trading from charts. It includes either of the two industry giants like TD Ameritrade and E*Trade, amongst other leading stock brokers.
- Offers access to a screening library of the deal news section and fundamental screens. It is pretty simple to implement, offering a gross idea of the deals between contracts and companies. If users want to step up their game, such access will quantify any impact the deal may have on a company’s net income.
- It doesn’t have a high score on backtesting. This is because it is designed for better technical analysis screening that is powerful, seamless, and fast. Such technical analysis will get the best time to shine in today’s irrational market.
Pros-
- Has a high quality of stock screeners.
- The software interface is user-friendly and straightforward.
- It offers intelligent and effective real-time news.
- Provides an extensive suite of broker integrations.
Cons-
- This application is quite expensive in comparison to its competitors.
Bottom Line
By now, readers must be thorough with the best stock analysis website or app available for the Indian stock market. To choose a stock analysis software, understand the trading style selected – day trading, investing, or swing trading.
Next, look for a suitable market to invest in, followed by defining a budget for purchasing the app. It must be in the right proportion with respect to the overall budget at hand.
Try to save as much as possible when subscribing to any stock trading app. Finally, after choosing a suitable app, go ahead with its tools to see a significant boost in the trading and investment income. Good Luck!
