Hey All,
Recently I stumbleed upon an App names Scanx.Trade and it literally has everything from powerful stock screening to in-depth market research for Indian stocks. I was casually browsing through some reels when I came across this gem of an app, where someone was explaining how to create a stock screener. This immediately caught my attention and I thought let me give it a try. Since, I was curious to explore further, I checked the App out myself and realized how powerful and easy it is to filter stocks based on technical and fundamental parameters. It’s one of those rare tools that actually simplifies stock screening instead of making it complicated. And the best part there is no need to create a login to leverage the App - its all for FREE.. How about I go through the stock scrrener that I made via this ScaX App.. so here we go and at first have a look at my Screener image showcasing good investment stocks...
ScanX - Stock Screener for Indian Stocks - Lets Explore...
Before I go into the nitty gritty of things, let me first remind you all that stock screeners are only tools to shortlist good stocks as per your parameters/filters/conditions, and is not a substitute for proper research, conviction, and risk management. I had a set of predefined filters based on which I wanted to shortlist stocks, and here are the filters I applied to ultimately narrow down the huge list of stocks down to 50+ stocks from over 2.7K+ available stocks. There were three criteria selected, which are as follows:
Fundamentals
Market Cap should be greater than 5K+ Cr. - 762 stocks came up
PE [Price to Earnings Ratio] - set to - 10 to 30 - from 762 the number reduced to 239 stocks now
Debt/Equity < 0.5 [focuses on reasonably valued, stable companies] - and now we are left with 165 stokcs. Still the list is big to do research on. Time for next criteria to be applied which is::
Trend / Momentum
Price > 50-day Moving Average
RSI (14) > 50 [51]
Volume > 20-day Average Volume
Applying the above filters got me to list of 51 stock 165. So yeah we are getting there but we need to apply our last criteria i.e. focus on growth stocks and applying filters based on it.
Growth
EPS [Earnings Per Share.] Growth (last 2 quarters) > 10%
Looking for companies whose Earnings Per Share have grown by more than 10% over the last two consecutive quarters. Applying this filter finally narrowed the list down to 38 stocks, which we can now analyze in much greater detail and with better focus. If you look at the image above, here is the list of some of those stocks we got and they are::
- Reliance Industries
- Tata Consultancy Services
- SBI [State Bank of India]
- Infosys
- HCL Technologies
- Kotak Bank
- Ambuja Cement And many others...
Finally, I am happy with the outcome from what I got from using ScanX and now that I have created my owner screener with the name - "Good Investment Stocks" but challenge to save this screener I would need to create a login. Maybe I will create a login in near future but for now the App is good enough to filter out the stocks based on your predefined criteria. It almost functions similar to an app that I earlier shared which goes by the name Screener need to see what is the main USP of ScanX here and how it is better than screener App. So may a topic for my my next post. But for now this should be it for todays post on - "ScanX - Stock Screener for Indian Stocks - Lets Explore..." Happy Investing... Cheers
Image Courtesy:: Scanx
Best Regards
Paras
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've have an interest in BlockChain & Cryptos and have been investing in many emerging projects...