I want to invest for short term …lets say 3 months…
How do I find stocks to invest ?
which website or tool I should use?
I am confused …some say use open Interest …some say find intrinsic value , some say use stock screener …and many other suggestions…so am asking here…
For 3 months timeframe, you want to go with a stock which has good technical indicators and decent fundamentals. Now there are many technical indicators like Moving averages, RSI, ADX etc. Once you have identified any stock based on screener, you need to check its PE ratio also within that sector, whether is a good buy or not.
Some screeners which I have used are as follows:
For individual company analysis, it is very good. Peer comparison comes in very handy when you are looking to invest for 3 months or less.
Fyers: It is a separate desktop application but has lot of features
Intraday charting and screeners available but may not be suited for your needs.
It is free and simple to use. Good for technical screening. They have an android app also.
Screener by smallcase: https://screener.smallcase.com/
They have some filters which are not there on any other screener I have seen. Good screener for fundamentals. Not so good for technical. Worth a try.
Some recent trades for short term:
Plastic ban news came couple months ago, and then it was logical to go and buy paper stocks. See performance of JK Paper, Orient Paper, Star Paper etc in last one month
Federal Bank had great quarterly results, but is beaten down now by Kerala floods. So once this problem subsides, it should go up. But here its very important to enter at right time, maybe more downside in next 1-2 weeks.
Stocks coming out of ASM category - After coming out of ASM, most stocks went up 10-20% within one month.
So if you are aware of these kind of news (relevant ones) you can predict short term profit makers. I dont know why people go and read 700 page books on stock market, instead spend time on reading on real market infos, and having a knowledge of what’s going on in midcaps, in large caps, in banking, in pharma, etc. You can make good short term trades based on these.