The next stock tool is the Stock Checklist.
Up next, we have the stock checklist. What’s that? Let’s see.
You all might be familiar with the Watchlist. It's a list of stocks that you wish to keep under the radar because you feel an opportunity might open up in it.
A checklist on the other hand is like the name sounds a list of stocks that qualify a certain list of metrics that you have set in.
Suppose you want to invest in Nifty Midcap 100 and you have certain rules that should qualify before starting an in-depth analysis. You can build that checklist here. Let’s take this same exchange as an example and build on it.
Now we will add the rules. (Note: We’ve also excluded flagged stocks here.)
In rules, we want to avoid investing in companies with high valuations so we will set P/E to the bottom 25%. If you notice you’ve something very interesting here. There’s a Basic way to add rules and an Advanced way.
The advanced way offers a more comprehensive approach to filtering out stocks. As you can see this will give you a more refined and precise list.
We will add our next rule, we want to keep tabs on stocks that have high-volume activity. We will select Avg daily turnover 1M and set it to the top 25%.
Let’s check the results.
We have our checklist ready. And now we can deep dive into just these four stocks.
We hope with this example you now know how to build your checklist. Let’s check our next tool now.