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Which Penny Stock will grow in 2024?
Best Penny Stocks to Invest in 2024 Experts from Forbes say, that before investing in penny stocks, the top 50 penny stocks were analyzed, and for that stocks with an annual trading of ₹30.00 have been considered. Below are the best stocks for the year 2024. IRFC @ ₹33.85, J&K Bank @ ₹55.40 andRead more
Best Penny Stocks to Invest in 2024
Experts from Forbes say, that before investing in penny stocks, the top 50 penny stocks were analyzed, and for that stocks with an annual trading of ₹30.00 have been considered.
Below are the best stocks for the year 2024.
IRFC @ ₹33.85, J&K Bank @ ₹55.40 and a lot more.
For more details on which penny stock is the best, do continue with the lines.
If you can understand the facts righteously then you will head to buy stocks that are identified for the purchase.
Yes, stock analysts at Forbes conclude the said facts after a deep data mining on the best penny stocks referring to the NSE/BSE of the Indian stock markets.
Picking the Best Penny Stocks is truly Difficult!
Knowing the best penny stocks is the most difficult task because of the uncertainty of the stock growth listed in the stock markets.
To understand better, let us assume facts,
You purchase a penny stock at a very low price and wait for the buyers in the markets.
Over a period, your purchased stocks may decay out from the markets and might not find even one option buyer. Thus, creating a total loss on your stock investment.
Still, if you are willing to consider a substantial level of risk then first, you must do intense research on the company you are opting for, second, do proper diversification of your portfolio.
Diversification of trading funds will hedge your investment and keep the investment protected if you encounter a potential risk against penny stocks.
Do allot a portion of your trading capital for penny stocks and use it for other trades like intraday trading, swing trading, option trading, and Futures & Options trading.
You can know ‘which penny stock is the best’ by checking the company information on the following grounds.
Check the historical perspective of the company’s performance. If the financial statements are worth enough then you can think about the company’s stocks.
Watch for the stocks that hold good liquidity.
The market capitalization of the company should be essentially a small-cap otherwise the stocks can prove to be risky.
The financial analysts at Forbes do intensive research on the top 50 penny stocks in India and suggest some of the well-to-do penny stocks.
Below, you will find a list of the best penny stocks you can plan to invest in 2024, but remember, the final decision is yours and none can be blamed for any kind of market risks.
However, let me state them along with other financial details, IRFC @ ₹33.85, J&K Bank @ ₹55.40, Suzlon Energy Ltd @ ₹25.50.
Indian Railway Finance Corp share price: @ ₹33.85
Indian Railway Finance Corp market cap: ₹43,557 Cr
P/E ratio: 6.69
Dividend Yield: 4.20%
You can buy this stock because the stock has risen by 65 percent in a year and possesses strong fundamentals. And, experts say, it can turn into multi-bagger penny stocks so hold for a long term.
J & K Bank Share Price: ₹55.40
J & K Bank market cap: ₹5,335 Cr
P/E Ratio: 4.42
The J&K Bank trade levels went up to ₹100s and recorded a net profit of ₹1,197 crores in FY 22-23, and its Non-Performing Assets marked 6.04% (8-year low).
Suzlon Energy Ltd Share Price: ₹25.50
You can consider this stock for purchase in the fourth quarter of 2023 because the stock has hit a 5-year high.
Note:
However, if you are confused or undecided on which stock to prefer, do not panic, there are quite a lot of good online stock brokerage companies that can lend you good support.
You can rely on discount brokerage companies like Angel One Stock Broking, Uptsox, Zerodha, and the list goes endless in the Indian stock markets.
See lessHow Can I Master the Share Market?
Master the Indian Stock Market Before you begin to gather information on ‘how can I master the share market?’ you must know basic activities that happen in these markets and follow the investors business methods in short. By doing so, it will tell you how important it is to master the share markets.Read more
Master the Indian Stock Market
Before you begin to gather information on ‘how can I master the share market?’ you must know basic activities that happen in these markets and follow the investors business methods in short. By doing so, it will tell you how important it is to master the share markets.
Share Market & Investors Activities in a Broader Spectrum:
Share markets facilitate stock trading professionally through the year with a few calendar holidays.
The basic activity is buying and selling of the stocks in which investors/traders make use of strategies that enable them to obtain maximum profit at the stock exchanges.
The share prices go up/down and these share price fluctuations are due to factors like company performances, high liquid trades in a higher stock volatility environment.
To derive the stock trade performance you can make use of fundamental analysis, technical analysis.
To apply the strategies you must take the aid of the statistics to judge the right entry position/exit position & changing the exit positions as per the trade trend set.
Change the exit positions when the trade signals begin to move in a direction that doesn’t favor your trade plan.
To Obtain Entry/Exit Positions
To obtain entry/exit positions, analyze the bars, charts representing the share price movements for a defined timeframe, say, 1-minute, 5-minute, 1-day, 20-day, and up to a 200-day period.
The statistical evaluations include simple moving averages, exponential moving averages, and moving averages convergence divergence, MACD.
These statistical formulas measure the stock market performances, predict the bullish/bearish markets, entry/exit position based on a timeframe domain.
For instance, the overlapping of the 200dayEMA & 5dayEMA helps you in identifying the buying/selling positions.
Before entering into the markets you must understand that application of stop loss is essential and its negligence can drag your investments into losses.
It is not simple as it appears to be, hence you need to master the tricks of the trade and enter into share markets to make good profit margins.
10.In the below lines you can find a detailed description of the ways to master your trades in the share market.
Master Trading in Share Markets:
You must absorb the basic essence of stock trading. Go through the books, reviews, social media circles, and online/offline classes to learn stock trading.
You must establish a clear-cut investment goal and limit your trade to tolerable risk.
As a beginner, do not touch penny stocks because they trade differently, try to take hold of well established stocks in trading.
Take help of online instructors having achieved good success in trading to make analyses of the stocks thoroughly in areas of fundamental analysis, company performance, and technical analysis.
Online companies like Zerodha, Upstox, Groww provide courses that help you in making a real-time analysis.
Do not select derivatives in trade during the initial period of your trading.
You must open a demat account with a leading discount stock broker, or bank that generates a trading account for you.
From time to time take the experts advice, and keep away from the emotions while you are making stock business decisions.
See lessWhat is the 5 3 1 rule in Forex?
Breaking down the 5-3-1 Forex Trading Strategy Besides the 5 3 1 trading rule, you must understand why forex trades are more preferred in the global platform, any specific advantages?. Why is it significant to apply risk management in the high volatility currency markets? Forex experts have deriveRead more
Breaking down the 5-3-1 Forex Trading Strategy
Besides the 5 3 1 trading rule, you must understand why forex trades are more preferred in the global platform, any specific advantages?.
Why is it significant to apply risk management in the high volatility currency markets?
Forex experts have derived simple guidelines for beginners in the Forex Markets, stating, begin a trade plan adopting 5-3-1 trading strategy.
5 refers to five currency pairs to learn and trade. You must choose your 5 pairs like, AUD/USD, AUD/NZD, EUR/AUD, GBP/AUD, and AUD/JPY.
3 refers to the adoption of three strategies in your trade plan and apply the technical indicators for the three strategies only.
1 refers to the trade one time, maintaining the same time, every day.
Advantages of the Forex Markets:
The forex market operates 24 by 7 and you can enter any time and mostly it offers liquidity thus opening the door for currency trading all time.
You must be alert in logging the trading account on schedules. Otherwise, you may miss the available opportunities or face the markets that are not in your favor.
You must identify the most active period of your chosen currency pairs and then proceed to trade in.
Employ Risk Management Techniques:
5-3-1 trading strategy is applied in the Forex markets and with the high degree of market volatility, you are advised to cover your risks by implementing the risk management techniques.
Forex markets maintain a high volatility due to the global participation of currencies, you will observe a rapid variation in the currency evaluations.
You may adopt the best time and tested trading strategy still there is a probability of incurring risks in the currency markets. You might encounter the market moving in a direction opposite to your trade plans and the market risk is bound to prevail.
None of the five currency pairs can enter or exit at your desired price for having low liquidity found even in one of the currency pairs. In Forex trading, liquidity plays a major risk and can stand hurdle to enter/exit at your chosen prices. Therefore, Liquidity risk can swarm the trades due to currency volatility and high buying/selling in the trading sessions.
During the trading sessions, your selection of order placement can happen on a wrong currency pair, it can be an outcome of erroneous triggers in the trading processes. You can incur loss in such circumstances therefore avoiding an operational risk is also inevitable.
Taking leverage support to raise the profit zone beyond a tolerance can lead to a loss thereby adding an additional burden on your trading capital. Therefore, Leverage risk should be managed carefully to avoid financial debts.
Forex trading is highly volatile and a mismanagement of your trade plan for reasons like emotional breakdown can pull down your trading capital. Therefore, you must set a control on your psychological factors and control psychological risk.
See lessWhat is Rule 21 in the Stock Market?
Rule 21 in the Stock Market Stock Exchange applies Rule 21 upon the investors/traders in various forms. NSE/BSE (exchange) can suspend/revoke the trading privileges, or even impose a fine. Further, the exchange can submit the case to the regulating agencies for an investigation, and later subject itRead more
Rule 21 in the Stock Market
Stock Exchange applies Rule 21 upon the investors/traders in various forms. NSE/BSE (exchange) can suspend/revoke the trading privileges, or even impose a fine. Further, the exchange can submit the case to the regulating agencies for an investigation, and later subject it to legal action if necessary.
Rule 21 Features:
The Rule 21 gives authority to the Stock Exchange to investigate and take appropriate actions upon those violating the rules and regulations.
Rule 21 features to prevent fraudulent or manipulations in trading that may fragment the stock market integrity.
The Rule 21 specifically defines what does market manipulation mean? An investor/trader can initiate to influence price or volume of an asset, causing a disarray in the trading scenario.
One can resort to several ways and means in creating a disarray by spreading false information, insider trading, creation of momentary demand/supply.
The financial regulator assigns the authority to stock markets for the imposition of Rule 21 to maintain two important aspects intact.
First, prevention of scrupulous elements causing harm to individual investors/traders.
Second, taking legal action against the individuals to maintain the overall integrity of the stock markets.
See lessIs Trading Better than Job?
Is trading better than a job? 'Is trading better than Job?' is entirely dependent on the individual perception and analysis. Before making a decision on what career you should begin with, you must analyse the different dimensions of stock trading and the regular time bound job profile, say betweenRead more
Is trading better than a job?
‘Is trading better than Job?’ is entirely dependent on the individual perception and analysis.
Before making a decision on what career you should begin with, you must analyse the different dimensions of stock trading and the regular time bound job profile, say between 09:30 am and 06:30 pm.
Let me start this argument from finish line to starting point in reverse order, say, you liked the most in the trading activities and you need to make all needful preparations.
It does include a determined mindset that defines psychological, emotional, control of anger/greed, non-vengeance trading principles.
Further, you must understand what fuels stock markets and how to enter and exit the markets with a decent profits.
You must conceptualize your trading activity and check for your abilities, skills, and employment of your preset trade plan.
Let us say, somewhere, the trading activity generated interest and passion and you decided to enter the trading markets and quit your regular job profile rather than.
Then also, you must be very cautious, perform swing trading that demands for less time contribution than intraday trading.
On purchase of your swing stocks, you can hold your asset from a few days to a few weeks.
You will have more time to make a detailed analysis and exercise your acquired knowledge, and skillset to sell out at a profitable exit position.
After you understand the tricks of the trade, you can steadily quit your regular 09:30 am to 06:30 pm and slide in as a full time trader.
A slow transition can help you in establishing yourself as a good trader in the future.
Significant Features of the Financial Stock Markets:
You can quit your job and join the stock trading circles provided you have already obtained knowledge on the basics, and the advanced trading strategies.
You must choose your desired trading strategies that suit your mindset.
In Indian Stock Markets you can perform day trading, swing trading, options trading, and futures & options trading, etc., whichever is comforting you.
You should take advice from experienced stock experts, stock brokers, and participate in the Internet groups that keep discussions real and live.
Try to learn business economics, and statistics that govern your trading strategies.
Follow advice at times of adversary but remember it may not work out at all time. Therefore, your decision making must be the ultimate.
See lessIs Trading Stocks more Stressful than a Normal Job?
I beg to differ, and I am not in total agreement with people concluding that stock trading is a stressful job. I hold my positive view forever after having an overview of the stock market trading. Let me post my argument in this manner. Before getting into trading, you must do a thorough homeworkRead more
I beg to differ, and I am not in total agreement with people concluding that stock trading is a stressful job.
I hold my positive view forever after having an overview of the stock market trading.
Let me post my argument in this manner.
Before getting into trading, you must do a thorough homework and it depends upon how you seek knowledge on stock trading.
You may take offline/online tutorials for basic learning or advanced learning from an expert.
Get attached to a stock broker providing the right guidance from time to time.
Do learn, analyse and make decisions from the scratch on the stock trades.
Remember, when you understand what trading is, then you will realise these facts:
Trading is purely scientific in nature, it comprises business economies, and statistical interpretation of the data ( stock prices).
You are advised to go through the right perspective of trading, check for yourself the trading trends in candlestick patterns.
A regulated analysis of trading in chart patterns, a 24 hour trading cycle analysis, and variation in stocks due to market sentiments can tell where the share price may reach while the closing bells ring.
Keeping it in view, you can make a logical analysis and define the parameters that are most likely to happen in trades.
Negative Happening :
Let’s look at the negatives, inside trading can cause damage to statistical analysis and your calculations on entry and exit positions can alter. It may result in wrong judgments and such scenarios might make you lose money.
But, that is rare to happen, hence make a calculated step, analyse the chart patterns by adopting new trading techniques.
Do adopt simple moving averages, exponential moving averages, overlapping of two different time frames like 200 day EMA, and 5 day EMA .
In addition, Moving Averages Convergence Divergence, MACD, displays stock selling zones, and stock buying zones.
The above stated analysis (MACD) can help you realize about the bearish/bullish movements in the highly volatile stock markets.
Now, tell me, when you are able to evaluate the stock patterns properly and make the right decision, where is the element of stress?
Be Careful:
Let me tell you, stress is the outcome of strain, fear, and lack of control on emotions and fear of losing money.
If such is the situation you face then apply techniques that protect you from making unnecessary losses in trading.
One such technique is the stop loss technique most widely believed.
Let me summarize for you, just learn the trading funda, seek expert advice, and follow the principles established by experts.
Set your daily limit of trading, if you cross over it, instantly stop the trade for the day.
Do not take margin support in day trading from your stock broker, why? A little discrepancy in trading can prove to be fatal.
Therefore, if you summarize these above said facts, you will never consider stock trading a stressful job even in your dreams!
See lessIs Trading Really Tough?
How Tough the Trading Is? If you are a trader then never begin your day with negative stock news, just avoid reading such lines for a while, moments later, make your mind realize the faulty lines that have gone by. Remember, queries like ‘Is trading really tough,’ get highly viral on social platforRead more
How Tough the Trading Is?
If you are a trader then never begin your day with negative stock news, just avoid reading such lines for a while, moments later, make your mind realize the faulty lines that have gone by.
Remember, queries like ‘Is trading really tough,’ get highly viral on social platforms for the nature of news it gets spread.
Negative news catches fire and leads to panic signals among the trading communities.
In the stock market scenarios, a bearish dive hits the stock prices to decline rapidly causing a huge financial loss for the investors.
If you find the ‘stock market crash’ news more frequently then you are bound to get disheartened and such huge colossal stock losses can trigger panic in you. By encountering such situations you will certaining feel that trading is really tough. Believe me, it is not true.
Just follow my advice to boost up your energy and hit the stock trades in a well balanced manner.
Stock market allows investors/traders to indulge in different kinds of trades and each kind needs to be operated under specific conditions. They are day trading, scalp trading, swing trading, option trading, future & options trading, etc., and many may evolve later.
Investors/traders do depend on technical analysis, fundamental analysis, and corporate news as they form the nerve cell to make decisions. The same applies to all kinds of trades mentioned above.
Strictly speaking, the share is valued by its face value ( INR 10.00) provided the company splits its value into INR 5.00, INR 2.00, or even INR 1.00 per share. But when it comes to the stock exchange, the share price goes multifold and factors are listed below.
Factors that Govern the Share Prices:
The factors that govern the share price are the corporate news, if news is positive, the share price hits upper circuit and vice versa. At the upper/lower circuit levels, the stock exchange suspends the trading for that specific stocks temporarily.
Company fundamentals, quarterly financial performance, and other factors like acquisitions, and mergers, and expansions also impact the share prices in a positive manner.
The fundamental rule in the share market is you enter the market when the prices are low and sell out when the prices rise.
For this, technical analysis explores the opportunities during which you can make an entry position, and exit position.
More importantly, statistical analysis by using candlestick patterns can help you draw closer to right entry positions, exit positions, and even change the positions and wait for the right exit levels.
To obtain the correct entry/exit positions, you need to perform a patient analysis and set control on your nerves otherwise your investment may follow the bins.
Since, the markets operate in precise timings and tremendous voluminous transactions of buying and selling keep going, any slight miscalculations can lead to disastrous outcomes.
To Avoid the Financial Stock Losses : Follow Few Listed Rules.
Plan your trading day and execute your trade plan only.
Do market research, and seek guidance from experts before investing, and in times of crises as well.
If you observe things going different, immediately withdraw from the trade to avoid financial loss. Never enter into vengeance trading principles.
Make use of stop loss techniques which even big traders tend to neglect in the money and lose most of it.
Set aside your sentiments, and emotions as the stock markets never run in a pragmatic manner.
Note: Browse success stories, attend online/offline stock money making courses, and stay interactive on social media (YouTube, Facebook, Instagram, Telegram) continually, you will drop the thought of toughness in trading.
Please find information online that helps you avoid pitfalls, and you will never let your mind encapsulate, ‘ Is trading really tough?’
See less