For short term technical picks, described as positional trading, which entails investing for a few weeks to few months, too much fundamental analysis is often not needed. Mind you, this type of investing is most profitable in a roaring bull market.
At best, you can have a look at quarterly numbers, promoter integrity, balance sheet etc to weed out the garbage quality stocks. These too can go up in a bull market, but personally I prefer my short term bets also to be of reasonable quality in terms of business and management.
Here the most important thing to figure out is the possible trigger for an upmove. If that is easily identified and company meets other criteria for a decent business, a big position can be taken. If your portfolio is big, then you need to check out the liquidity in terms of number of shares traded also, so that entry and exit are easy.
Most of the times, these short term bets are sectoral bets and hence it makes sense to check on sectoral tailwinds. And then select a few stocks from the sector. I usually go for a number 1 or 2 as one candidate and other couple of candidates from lower down the pecking order. In sectoral rallies, usually the ones that come down the pecking order tend to do well. But if the rally reverses, the solid companies will correct the least. So we have to position accordingly.
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