1

INTRODUCTION
TO
STOCK MARKET
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What is a Market?
• A Market is a place where people gather to buy and sell a particular
good/services.
• The action of buying and selling is called Trading.
• For Eg FISH MARKET
• FISH MARKET is place where people gather to buy and sell FISH.
• In other words, FISH MARKET is a place where fish is Traded.
• Similarly, Stock Market is a place where people gather to buy and sell
STOCKS
• In other words, SM is a place where Stocks are Traded.
• The word Stock and Share can be used Interchangeably. Stock is a
general term. Share is a more specific term. So when I use
Share/Stock, they are same.
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WHAT IS STOCK MARKET?
• A Stock Market is a place where SHARES of PUBLIC LISTED
COMPANIES are TRADED. (In other words, Stock Market is a place where people gather
to buy and sell SHARES of Public Listed Co)

This piece of
paper can be
called as
share. (For
Now)

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FISH MARKET PRODUCT

STOCK MARKET PRODUCT

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• For Now, Just imagine Share is a just a Piece of Paper.
What that piece of paper indicates will be discussed in
coming slides
• A Fish should reach the Fish market first so that people
gathered in the Fish Market can buy and sell it right?
Just Like that a Share should reach the Stock Market
so that it can be traded by the people who gathered in
the stock market.
• In the next few slides, you will see What exactly is that
piece of paper. And how that piece of paper arrives at
the stock market for trading.

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What is a Stock?
• Remember, The word Stock and Share can be used Interchangeably.
• Before understanding the definition of Stocks, the definition of
company is required to be understood.
• A Company is a separate legal entity which is operated by a group of
people. It is primarily formed to run a business.
• The Company requires money to run the business
• The Company has got 3 broad options to raise money.
• Promoters Own Cash
• Loan from Bank
• Collect money from Public by issuing shares to them.

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• We just understood the definition of Company.
• We also understood that Company issues shares to public for raising
money.
• If a company raises money from the PUBLIC by issuing SHARES, then
that company is called PUBLIC LISTED COMPANY.
• When issuing shares to public, it will have a fixed value. This means,
each piece of paper will have a fixed value.
•
Here the value is Rs 10/share

• When the company offers this piece of paper to public, they pay the
amount indicated in it and BUY it.
• If someone buys this paper, they become owner of the company for that
portion of shares acquired by him.

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• After reading the previous 2 slides, you are ready to read
the technical definition of SHARE.
• In the coming slides we will discuss
• The Technical Definition of Share
• How Shares are issued to PUBLIC
• And finally, how it reaches the Stock Market.

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Definition of Share.
• A share is referred to as a unit of ownership which represents an
equal proportion of a company's capital.

Lets
understand
the definition
with an
example

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11
12
After printing 100000 share certificate, Company
Approaches Securities & Exchange Board of
India(SEBI). (They are the prime body which makes rules
and regulates the stock market in India)

Through SEBI , Company

Approaches Primary Market.

Issue Shares to Public via IPO i.e.

Initial Public Offering.

Just like
After issuing, shares are listed in Fish is
brought to
Stock Market for Trading. the Fish
Market

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Initial Public Offer (IPO)
• An initial public offering (IPO) is the first time a company
issues shares to the public. This is when a private company
decides to go ‘public’.
• When a company decides to go PUBLIC via an IPO, it is done in
the Primary Market.
• Primary Market is also called New Issue Market.
• During an IPO, the company opens its shares for sale to the
public. As an investor, you can buy shares directly from the
company and become a shareholder.

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Example on How Public participates in the IPO

Mr A purchases
• Rs 10 each
100 shares

Mr A spent Rs
1000

Mr A received
100 Share
Certificate

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Mr B purchases
• Rs 10 each
1000 shares

Mr B spent Rs
10000

Mr B received
1000 Share
Certificate

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Mr C purchases
• Rs 10 each
5000 shares

Mr C spent Rs
50000

Mr C received
5000 Share
Certificate

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 Mr A1000 Mr B10,000 Mr C50000

Other Why company is going Public?

The main reason for a company to go public is to
people93,90,000 raise Capital/Fund for its Growth and Expansion.

Company raised Rs 10 Lakh from Public via IPO

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 After IPO, Shares
are Listed in Stock
Market

STOCK MARKET

National Stock
Once Shares of Public Listed
Exchange
Companies are listed in the
Stock Market, that share
becomes a product that
people can BUY and SELL.
Bombay Stock
Exchange

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When company raised Rs 10 Lakhs via IPO, the people like Mr A, Mr B ,
Mr C etc, who bought the shares of the company became owners for
that portion of shares they bought.

SHAREHOLDERS=OWNERS
See next
slide
Once the shares are issued in the primary market, then those shares are listed in the secondary
market for Trading. Investors/Traders meet at a place so that they can BUY & SELL the shares of
the company. (Recollect the Definition of Stock Market here. SM is a place where shares of Public Listed Companies are
traded.)

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Secondary Market
• Secondary market is where previously issued shares of a company are
traded.
• In other words, Secondary Market is literally what we call as “Stock
Market”.
• The investors BUY and SELL stocks among themselves.
• There is NO involvement of the company who issued those shares
through IPO.
• For example, if you go to buy INFOSYS(INFY) stock, you are dealing
only with another investor who owns shares in Infosys. Infosys is not
directly involved with the transaction.
• In Secondary Market, the price of the share changes depending on
Demand and Supply.
• Once shares are issued through IPO, the shares are then pushed from
Primary Market to Secondary Market so that Investors/Traders can
meet and do business. 21
 Difference between Primary Market and Secondary market

Primary Market Secondary Market

Also Called as New Issue Market After Issue Market

Role of the market Market where stocks are issued Market where stocks are traded
for the first timeIPO once issued

Intermediaries Investment Banks Stock Brokers

Sale of Securities Directly by Company to Sold and purchased amongst

Investors investors and traders

Price of Shares Fixed at par value Changes depending on the

supply and demand of shares

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 STOCK
MARKET

BROKERS Zerodha/Upstox
Brokers connect
Stock Market and
Investors by
providing Trading
Platforms and
Demat Account
INVESTORS

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 In 1996, SEBI decided to throw away this paper
piece. The “piece of paper” term was for better
understanding of the concept. SEBI decided to
make Digital Copies of Share Certificate in 1996 so
that it can be stored digitally in a separate
account called DEMAT ACCOUNT. So a DEMAT
account is required for Investing in Stock Market.

• A TRADING & DEMAT Account is required to trade/invest in STOCK MARKET.

• TRADING ACCOUNT allows people to buy and sell shares of a company.
• DEMAT ACCOUNT allows people to secure digitally the shares bought by them.

• The Brokers suggested by STELLARSTEN are

• Zerodha
• Upstox
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WHY DO INVESTORS PARTICIPATE IN STOCK MARKET

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Investors Participate in the Stock Market to
create WEALTH

• How Wealth is created?

• Price of an active Stock fluctuates every
second. A trader/investor can Buy the share of
a company when the price is LOW and sell the
same share when the price rises.
• By purchasing shares, you become owner for
that portion of the company. So Company
gives you a share of its profit by way of
DIVIDEND every year. (Note: Paying Dividend is Not Mandatory)
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WHY PRICE OF A STOCK CHANGES? The basic logic of Demand and
Supply need to be understood first.

DEMAND If Demand for a fixed number of share

increases, its price tends to go up.

If Demand for a fixed number of share

decreases, those who already own the share

SUPPLY will start panicking and start selling at lower

prices to avoid losses. Thus there will be an
increase in supply which pulls down price
lower.

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In the previous slide, the effect of Demand and
Supply on share price was explained. But how did
Demand for a particular stock increase or decrease?
What triggers change in Demand and Supply? Lets
understand the main FACTORS that determine
demand and supply.

COMPANIES
MARKET SENTIMENT
PERFORMANCE

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COMPANY PERFORMANCE
DEMAND

If a company performs well, the demand for the stock increases.

When demand increases for a fixed number of shares of a company,
its price increases.

SUPPLY

If a company is not performing well, the demand for the share

decreases. So people who already own the stocks will sell the stocks
at smaller prices, thus increasing supply. This reduced the price.

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MARKET SENTIMENTS
DEMAND

• A positive news about the company is spreading slowly in the market. People tent to
believe that the companies stock is worth buying. This increases the demand. This in
turn increases the price.

SUPPLY

• A negative news that might affect the company is spreading slowly in the market.
People tent to believe that the companies stock is not worth holding. This
decreases the demand. Panicked people who hold the share will start selling the
share at lower prices thus leading to increase in supply. This in turn decreases
the price.

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BUYERS

SELLERS

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STOCK MARKET INDEX

NATIONAL STOCK EXCHANGE BOMBAY STOCK EXCHANGE

NIFTY 50 SENSEX

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• In layman terms, Stock Market Index is the weighted average of MARKET VALUE of
top companies in a particular STOCK MARKET.

NIFTY 50-9066
NIFTY 50 is an Index introduced by NSE in 1996. NIFTY 50 stands for National Index Fifty, and
represents the weighted average of MARKET VALUE of 50 Indian company stocks in 17 sectors.

MARKET VALUE= NO: OF OUTSTANDING SHARES x Last Traded Price of a stock

SENEX-30,818

SENSEX is an Index introduced by BSE in 1986. SENSEX stands for Stock Exchange Sensitive
Index, and represents the weighted average of MARKET VALUE of 30 Indian company stocks.

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THE IMPORTANT QUESTION

HOW TO MAKE MONEY

FROM STOCK MARKET?

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LONG TERM INVESTMENT TRADING

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LONG TERM INVESTMENT
• When you buy a share and you bring that to the DEMAT Account, we say that, we took
DELIVERY of that share.
• Remember the word Delivery. As you will see this in Order Window of Zerodha/Upstox
• Once we take delivery of that share ie Once we bring it to our DEMAT Account, we can
hold it for:
• One Day
• Two Days
• 1 Week
• 1 Month
• 1 Year.
• 10 years
• 50 years

• If you hold a share for a very long time, then it can be called as Long Term Investment.

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 Trading

Position
Day Trading Swing Trading
Trading

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DAY TRADING
• What is Day Trading?
• Why is it so special?
• How to do Day Trading?
• Advantages
• Disadvantages
• Check List before starting Day Trading

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WHAT IS DAY TRADING?

• When you buy a stock and sell it on the same day, then that is called Day
Trading.
• Stock Market opens at 9AM and closes at 3:30PM.
• If you after at 9:30AM. You must sell it before 3:30PM.
• Day Trading is also called as Intra Day Trading

What is special about Day trading

• Leverage Leverage gives you an opportunity to trade large quantities and thus, make
huge profits with small capital.
• In Simple words, Leverage is the additional Capital provided by broker for us so that we
can buy and sell more number of Shares.
• For eg: If I have 1000 Rs in my Trading Account & the leverage provide by the broker is
20x, we can buy shares for 1000x20 = Rs 20,000. Rs 19,000 is borne by the broker on
behalf of us. This inturn increases purchasing power of Day Traders.
• Lets understand the concept of Leverage with the help of an example.

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NORMAL INVESTMENT  EXAMPLE

Cash in Trading Account Rs 1,000

Current Market Price of TCS Rs 1,000

Buy TCS@ Rs 1000

Number of Share 1

Sell TCS @ Rs 1,100

Profit Rs 100

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DAY TRADING EXAMPLE

Cash in Trading Account Rs 1,000

Leverage provided by Broker 20x

Cash available to purchase share 20x1000 = Rs20,000

Current MP of TCS Rs 1,000

Buy TCS @ Rs 1000

No: of Share bought 20 Shares

Sell TCS @ Rs 1100

Profit 20 Shares x Rs 100 Rs 2,000

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 NORMAL AMOUNT
INVESTMENT INVESTED=Rs 1000
Profit = Rs 100

AMOUNT
DAY TRADING Profit = Rs 2,000
INVESTED=Rs 1000

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A Quick Presentation of HOW To place Intraday Order using Zerodha

1. Select a stock using Zerodha Kite Platform. We chose TATA MOTORS.

2. Check the leverage provided for TATA MOTORS by using Zerodhas Margin Calculator12x
3. Select MIS Option (Margin Intraday Squareoff)
4. Fill in the desired Quantity
5. Click Buy
6. Your Intraday Order is successfully placed
7. You will have to sell TATA MOTORS share on the same day.
8. If you fail to sell manually, your broker will sell it(square off) automatically at 3:30 PM.

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Questions in Mind about Leverage

What if you buy using Leverage and price comes down?

If you buy using leverage and price comes down unexpectedly ,
there are possible chances of huge losses. It can even wipe out
your entire trading account.

How can we avoid such losses?

Inorder to avoid such huge losses, you must learn the nuke and corner of Day Trading
first. Having the accurate knowledge and practicing it with proper discipline is the
KEY.

Another way to limit losses is by putting a Stop Loss Order. The exact working of
STOP LOSS ORDER will be demonstrated in the next slide.

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• Lets Assume that you bought 1000 Quantity of TATA MOTORS @ 70 Rs.(Refer Slide 43)
• You expect price to go up to 90
• Expected profit Rs 20,000
• But what if price dropped to Rs 45
• You will have a loss of Rs 25,000
• Inorder to avoid that huge loss, a stop loss order can be placed.
• How Stop Loss Order can be placed?
• Once Buy Order for 1000 Qty is placed, Immediately place a SELL Order as follows.

• Select MIS, Type in the Quantity and Select SL-M Option

• Set Trigger Price as Rs 65
• You expected price to go from 70 to 90. But if the price starts falling from
70, Broker will automatically sell your shares once the price hits Rs 65. Thus
saving you from huge losses.
• There is only Loss of Rs 5000 when stop loss order was placed. But if SL
Order wasn’t placed, the loss would have been Rs 25000. 45
ADVANTAGES OF DAY TRADING
• Leverage
• Short Selling
• No Overnight Risk
• Offers Flexibility and Convenience Don’t worry. Its
• Real Liquid Cash due to Lack of
Knowledge. That’s
why we are here
to teach.
DISADVANTAGES
• Majority Traders Make loss rather than profit.
• Demands lot of time and attention.
• Deep learning and extensive practice is required.
• You need to me mentally and emotionally strong.

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 SHORT SELLING
• Short selling is one of the biggest advantage of Day Trading. This might
be a little hard to digest.

• YOU CAN MAKE MONEY WITH DAY TRADING EVEN WHEN THE MARKET
GOES DOWN

• DAY Traders make money in any market situation.

Expecting
Expecting
Market to go
Market to go up
down

• We expect Market to go up! • But what if we expect market to go down?

• We buy a stock at Rs 1000 • Sell at Rs 1000 first.
• We sold it at Rs 1100 • Buy at Rs 900
• Profit = Rs 100 • Profit = Rs 100

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 How can we
sell something
that is not
even with
us??

The explanation of how Short Selling actually

works would be too much information for a
beginner. So we are not explaining it here. Will
explain how it works once the batch progresses.

For Now, Just remember that, As a Day Trader you can Make Money even
when the Market Falls. And that is called Short Selling.

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Day Trading Check List
If your are going to do Day Trading, you need to know 7
things
• Trading & Demat Account
• Knowledge about Leverage
• Target & Stop Loss
• Candle Sticks ,Charts, Tool
• Technical Analysis
• Technical Indicators
• Discipline and Money Management

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TARGET AND STOP LOSS

Set Target @
Buy @ Rs 100 Set SL @ 90
Rs 120

Target places a sell order which will get automatically

executed once the stock reaches that point. It helps to
Book Profit

Stop Loss helps you to limit losses. SL places a sell order

which will get executed automatically once the stock
reaches that point.

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Technical Analysis
So after reading the previous slides, you now know that before entering a
trade, you need to be well prepared and informed. You need to decide 4
things written below.
1. At what price you are going to BUY the stock?
2. How long will you hold the stock?
3. At what price you are going to sell it (Target)?
4. What amount should be set for Stop Loss Order?

In order to know the above listed things, you need to do some research
obviously. There are mainly two types of Research Technique.
• Fundamental Analysis
• Technical Analysis

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Fundamental Analysis is a concept which is more associated with Long Term
Investing. Since we concentrate on Day Trading, we are not going to discuss
Fundamental Analysis here.

As a Day Trader, one must definitely master the art of Technical Analysis. In
simple words, TA is a research technique which allows a trader to define the
trade based on 4 parameters mentioned above. In much simpler words,
Technical Analysis help you to identify possible BUY PRICE, SELL PRICE, and
STOP LOSS PRICE.

We can discuss the technical definition later.

Let’s understand Fundamental Analysis and Technical Analysis with a very
simple example.

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You are going to buy a Laptop from Amazon. You have no idea about Laptops. You have two ways
to decide the laptop that you need to buy.

Option 1 Research about laptops from various laptop brands, compare their specifications, sit and
read about each and everything about the laptop. You might call and ask your friends about
laptops. And finally choose the laptop based on your research and buy it from amazon.

Option 2 You just filter the amazon page for “Laptops with Top Rating”. Amazon short lists the
top rated laptop. You just found out a laptop which is gaining a lot of crowd’s attention. Here you
can make a very simple assumption. This Laptop is top rated in Amazon, it attracts huge crowd, so
it must be the best laptop. Based on your assumption and the crowd’s preference, you decided to
BUY the laptop. There are high chances that you end up receiving the best laptop available in the
market.

Option 1 is Fundamental Analysis where you as an INVESTOR, research about the nuke and corner
of a company before buying its share.

Option 2 is similar to Technical Analysis where you scan for opportunities to buy a stock based on
the preference of the market participants.

Fundamental analysis and Technical Analysis can’t be compared. They both are different.

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 Now lets breakdown the technical definition of Technical Analysis

Technical Analysis is a research technique to identify trading opportunities in the market based
on the actions of market participants. The actions of Market Participants can be visualized by
means of Stock Chart.
• TA is a Research Technique This means TA involves collecting and analyzing a set of data to
arrive at a conclusion.
• The Data collected is about the actions of Market Participants i.e. people who gather to buy and
sell stocks (Bulls & Bears)
• Such Actions of Market Participants are reflected in Stock Charts.
• This means TA involves collecting data from stock chart and analyzing it.
• Why such analysis is conducted?
• Such Set of Data is collected and analyzed to Identify Trading Opportunities.
• At what price should you Buy a stock
• What is the Target Price.?
• What should be the Stop Loss?
So you understood Technical analysis involves analyzing Stock Charts to identify trading
opportunities.

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 Stock Charts
Technical Analysis Involves analyzing Stock Charts. Given below is the chart of ICICI
BANK. You can open chart of any stock from your brokers platform.

Y Axis denotes Price

NO!! This doesn’t look

like the chart I learnt
in High School! Why
do the graph look like
blocks of Red and
White ?
X Axis denotes Date/Time

55
Those Green and Red Blocks are called Candle Sticks.

GREEN CANDLE RED CANDLE

HIGH
HIGH
OPEN
CLOSE

CLOSE
OPEN

LOW
LOW

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The chart you saw in Slide No: 55 does not look like the typical chart you learnt in High school. That’s
absolutely True. As far as Technical Analysis is concerned, The Stock Chart is not made by typical Line
Charts. It is made by Japanese Candle Sticks. You will see Japanese Candle Sticks anatomy in coming
slides.

Why traders prefer Candle Stick Chart over traditional Line Chart? For understanding that, LETS take one
particular example of a Line Chart. Given below is the Line Chart indicating Time and Price of INFOSYS’s
Share for 1 day.

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Time Last Traded Price
• The table on the left side is used to plot the Line Chart in
Previous Slide
09:15 AM 80 • As a Technical Analyst, you have got very less data to analyze in
09:30AM 100 a Line Chart.
• Line graphs provide significantly less information about price
10:00 AM 150
because it only connects the closing prices of the given interval.
10:30 AM 75 • The information provided in the Line Chart is not enough for a
11:00 AM 200 Trader to analyze and arrive at conclusions. In other words,
Technical Analysis wont be effective if data is taken from Line
11:30 AM 250
Chart. In order to conduct effective technical Analysis, 4 critical
12:00 PM 275 data is required.
12:30 PM 300 • OPEN
• HIGH
01:00 PM 320 • LOW
01:30 PM 100 • CLOSE
02:00 PM 125
• This 4 Critical Data can be collectively visualized in a Candle
02:30 PM 175 Stick Chart and thus it is a Traders powerful tool for Technical
03:00 PM 195 Analysis.
03:30 PM 180

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• Each candlestick in a chart is separated into fixed timeframes. For example, a candle stick can
represent 1 minute, 5 Minutes,15 Minutes, 1 hour, 3 Hours, 1 Day, 1 week, 1 month etc. Each
candlesticks represent the high, low open and close price for a specific period of time.
• We can set timeframe from using the Trading Platforms provided by Brokers.
• When looking at a 15min chart, each candle represents a 15 min period, or session, of trading activity.
It indicates Open, High, Low, Close price for 15 minute time frame.
• When looking at a daily chart, each candle represents one day of trading activity and shows Open,
High, Low, Close for 1 day.
• Lets take the example of Infosys shown in previous slide.
• Set Time Frame of Candle Stick to 1 Day
• A Single Candle Stick will be formed denoting the following data.
• OPEN Rs 80 (Price when Market opened @ 9:30AM)
• HIGH Rs 320 (Highest price reached on that day)
• LOW Rs 75 (Lowest price reached on that day)
• CLOSE Rs 180 (Price when Market closed @ 3:30 PM
• As far as Candle Stick Charts are concerned, a timeframe is defined as the time duration which one
used to study a Chart. One can customize timeframe as per requirement. A Day Trader may use time
frames of 5 minutes , 15minutes etc.

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Anatomy of candle Stick(This will be explained in detail during the session.)

60
Assumptions in Technical Analysis

• As a Technical Analyst, you should be able to analyze and arrive at

conclusion from Candle Stick Charts.
• A Technical Analyst analyses stocks past trading data to identify what
information this data can provide about future price movement of the
stock.
• You should be able to identify trends, patterns etc. so that Trading
Opportunities can be identified.
• Since TA is a research technique, it must have some underlying
assumptions. They are :
• Market Discounts Everything
• The ‘HOW’ is more important than “WHY”
• Price moves in Trend
• History tends to receive itself.

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Market Discounts Everything.
This assumption tells us that, all known and unknown information in the public domain is
reflected in the latest stock price. For example, there could be an insider in the company buying
the company’s stock in large quantity in anticipation of a good quarterly earnings announcement.
While he does this secretively, the price reacts to his actions thus revealing to the technical
analyst that this could be a good buy.

The HOW is more important than WHY

This assumption tells us that, all known and unknown information in the public domain is
reflected in the latest stock price. For example, there could be an insider in the company
buying the company’s stock in large quantity in anticipation of a good quarterly earnings
announcement. While he does this secretively, the price reacts to his actions thus revealing to
the technical analyst that this could be a good buy.

62
Price moves in Trend
All major moves in the market is an outcome of a trend. The concept of trend is the foundation
of technical analysis. For example, the recent downward movement in the NIFTY Index to 9000
from 12000 did not happen overnight. This move happened in a phased manner, in over 3
months. Another way to look at it is, once the trend is established, the price moves in the
direction of the trend.

History tends to repeat itself

In the technical analysis context, the price trend tends to repeat itself. This happens because
the market participants consistently react to price movements in a remarkably similar way,
each and every time the price moves in a certain direction. For example in up trending
markets, market participants get greedy and want to buy irrespective of the high price.
Likewise in a downtrend, market participants want to sell irrespective of the low and
unattractive prices. This human reaction ensures that the price history repeats itself.

63
TECHNICAL INDICATORS

• Indicators are independent trading systems introduced to the world by successful traders.
Indicators are built on preset logic using which traders can supplement their technical study
(candlesticks, volumes, S&R) to arrive at a trading decision. Indicators help in buying, selling,
confirming trends, and sometimes predicting trends
• In simpler words, Indicators are tools that are developed by successful traders, that we use to
analyze the charts so that we can predict where the price is going. Such tools are called
Technical Indicators.
• There are two types of Indicators
• Leading Indicators which signals occurrence of a reversal or new trend in Advance.
• Example  RSI, Oscillators
• Lagging Indicators which signals the occurrence of a reversal or new trend after it has
occurred.
• Example Moving Averages, MACD

All the technical indicators are available in the Charts.

Disclaimer : Do not take trading decision solely based on Indicators. Indicators tend to give false signals.

64
DISCIPLINE & MONEY MANAGEMENT
• No matter how good you are at Technical Analysis, if you are not disciplined, you will fail as a Day
Trader.
• We panic when we see a loss and forget the strategies and plans
• If you end up in a loss, you will try to recover it resulting in irreversible damage to your Trading
Account.
• Lack of Discipline is directly proportional to Capital Loss.
• So if you are planning to start Day Trading, you must have to
• Learn a lot about Day Trading
• Make a Plan
• Stay Focused and Disciplined while executing the plan
• And finally STICK to the plan

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66