Step 1 of 8

Universe & Investability

Sabse pehle hum ek "Investable Universe" define karte hain — yaani NSE/BSE par listed 5,000+ stocks mein se sirf un safe aur liquid stocks ko chunte hain jinhe bina manipulation ya liquidity risk ke kharida aur becha ja sake.

~5,000 Stocks NSE + BSE Universe
~2,000 Survive Is filter ke baad
Hard Cutoff Illiquid stocks OUT
Pehle ye samajhna zaruri hai: Ek stock chahe kitna bhi accha lage, agar usme daily trade hi nahi hota (illiquid), toh jab aap bechne jaoge toh koi buyer nahi milega! Isliye pehla rule hai — sirf tradeable aur well-regulated universe mein invest karein.
Market Capitalization (Market Cap)
Size Filter · Essential Cutoff
Step 1.1
1. Ye kya hai? (What is it?)

Market Capitalization (Market Cap) ka matlab hai — aaj ke share price par poori company ki kul market value kitni hai?

Formula: Market Cap = Current Share Price × Total Shares Outstanding

Example: Agar TCS ka share price ₹4,000 hai aur unke 36 crore shares hain, toh TCS ka Market Cap = ₹4,000 × 36 Cr = ₹14.4 Lakh Crore.

Indian Stock Market mein 4 broad categories hoti hain:
• Large Cap: Top 100 companies (Market Cap > ₹20,000 Cr) — Sabse safe, stable businesses.
• Mid Cap: 101st se 250th rank (₹5,000 Cr se ₹20,000 Cr) — Growth aur safety ka balance.
• Small Cap: 251st se aage (₹500 Cr se ₹5,000 Cr) — High potential, lekin high risk.
• Micro Cap / Penny Stocks: ₹500 Cr se neeche — Operators aur manipulation ka khatra!

2. Asli Indian Example

Reliance Industries vs Penny Stock: Reliance ka market cap ₹18+ Lakh Crore hai. Yahan hazaron mutual funds, FIIs aur retail investors trade karte hain. Koi single operator iski price manipulate nahi kar sakta.

Doosri taraf, ek ₹40 Crore market cap wali XYZ Penny stock mein promoter ya operator thode se paise daalkar upper circuit lagwa deta hai, aur retail investors FOMO mein fas jaate hain jab tak circuit open na ho.

Hamaara Rule: Beginners ko hamesha minimum ₹500 Crore+ (ya Large/Mid Cap ke liye ₹5,000 Cr+) par filter lagana chahiye.

3. Screener mein kaise dekhein?
Screener.in Custom Query:
Market Capitalization > 500

Screener.in par jaayein → Screens → Create New Screen → Query box mein paste karke "Run this query" click karein.

4. Ideal Range
Large Cap: > ₹20,000 Cr (Lowest Risk) Mid Cap: ₹5,000 – ₹20,000 Cr (Balanced) Small Cap: ₹500 – ₹5,000 Cr (Deep Research) Micro Cap: < ₹500 Cr (Avoid for Beginners)
Free Float Market Cap
Liquidity & Ownership Filter
Step 1.2
1. Ye kya hai? (What is it?)

Free Float ka matlab hai — company ke total shares mein se kitne percent shares actually market mein public ke paas trade hone ke liye available hain?

Promoters ke locked-in shares aur government ki strategic holdings ko minus karne ke baad jo shares bachte hain, unhe Free Float kehte hain.

Formula: Free Float = Total Shares − (Promoter Holding + Locked Strategic Shares)

Kyun zaruri hai? Agar kisi company mein 90% shares promoter ke paas hain aur sirf 10% market mein hain, toh price artificial demand se tezi se upar-neeche hoti hai.

2. Asli Indian Example

SEBI ka niyam hai ki listed companies mein minimum 25% public shareholding (Free Float) honi chahiye.

Jab kisi PSU ya MNC stock mein promoter holding 75% ke paas hoti hai, toh floating stock kam hone ki wajah se volume kam ho jata hai. Hamesha check karein ki promoter holding 75% se zyada na ho aur public float kam se kam 25–40% ho.

3. Screener mein kaise dekhein?
Screener.in Query:
Market Capitalization > 500 AND Promoter holding < 75
4. Ideal Range
Free Float > 40%: High Liquidity Free Float 25% – 40%: Normal & Healthy Free Float < 20%: Manipulation Risk
Average Daily Volume (ADV) & ADTV
Tradability & Liquidity Gate
Step 1.3
1. Ye kya hai? (What is it?)

ADV (Average Daily Volume): Ek average din mein stock ke kitne shares kharide aur beche jaate hain.

ADTV (Average Daily Traded Value): Ek din mein kitne rupaye ka total turnover hota hai (Volume × Price).

Liquidity Trap se bachein: Agar aapne kisi aise stock mein ₹2 Lakh invest kar diye jahan poore din mein sirf ₹50,000 ka trade hota hai, toh jab aap bechne jaoge toh aapki selling se hi price 10-15% crash ho jaayegi!

2. Asli Indian Example

HDFC Bank / ICICI Bank: Daily turnover ₹500 Cr+ hota hai. Aap chahe ₹10 Lakh bechein ya ₹1 Crore, price par 1 paise ka bhi fark nahi padta.

Illiquid Micro-Caps: Bahut si aisi companies hain jahan hafte mein sirf 100 shares trade hote hain. Aisi jagah retail investor apna paisa fasa leta hai.

3. Screener mein kaise dekhein?
Screener.in Query:
Market Capitalization > 500 AND Average volume 3months > 100000
4. Ideal Range
Daily Traded Value > ₹10 Cr/day: Institutional Grade Daily Traded Value ₹1 – ₹10 Cr/day: Retail Safe Daily Traded Value < ₹50 Lakh/day: Illiquid Risk
Listing Age & History
Data Reliability Gate
Step 1.4
1. Ye kya hai? (What is it?)

Fundamental analysis ke liye company ka kam se kam 3 se 5 saal ka financial track record hona zaruri hai.

Naye IPOs mein promoter aur private equity investors aksar accounts ko temporarily polish karke high valuation par issue laate hain. 3–5 saal ke track record se pata chalta hai ki company ne bull aur bear dono markets dekhe hain.

4. Ideal Range
Listed > 5 Years: Complete Cycle Proven Listed 3 – 5 Years: Acceptable Track Record Fresh IPOs < 2 Years: High Caution Required
Step 1 Master Screener Query
Screener.in — Step 1 Universe Query
Market Capitalization > 500 AND Average volume 3months > 100000 AND Promoter holding < 75