StockyLab: Looking for Best STOCK ADVISOR ?
- 14 July 2020 | 1284 Views | By Abhinav Mishra
Investing in the stock market is not everyone’s cup of tea. The percentage of people who have made a profit in the stock market is far less than those who have lost their hard-earned money. Yet, the stock market is the best way to create wealth. Reading this article on StockyLab will give better understanding on stock market.
Have you ever given a thought – Why stock investing is so hard and only a few people succeed in the game? Where can I get good stock advice? How people like Warren Buffett are able to pick an undervalued stock more often than not? There is no luck in the game, you need to have a deep understanding of the market, sectors, and capability to analyze the stocks in and out. All this is not possible for everyone since stock investing is not our primary job.
What is StockyLab?
StockyLab is one such company that aims to simplify the stock-picking process for traders and investors by providing the fair value of the stock for the Indian stock market. They provide how the company’s leadership performs which helps users to decide the forecast of a company’s future. They only use the company’s fundamentals and the quarter on quarter balance sheets to analyze whether to buy, sell, or hold a particular stock using the algorithm. StockyLab is designed with a vision to provide crucial stock investment advice to traders and investors in the simplest way possible.
Some of the features of the app are:
1. Fair value
This indicator calculates the intrinsic value of the company using its fundamentals such as growth, assets, liabilities, cash reserve, etc.
2. Company’s Rating
For every stock, the app shows a rating indicator in terms of percentage. The rating of a company symbolizes the effectiveness of the company’s assets, debt, and cash management compared to industry peers.
3. Portfolio Tracker
Users have an option to create a virtual portfolio to measure the performance of the portfolio using an interactive graph.
Not all stocks are part of the investor’s portfolio, but investors need to keep a close watch on some of the stocks. Watchlist is a section to monitor the stocks, not in the portfolio.
The app provides buy, sell, and hold recommendations based on the proprietary algorithm to maximize gains for the investor.
6. Stock News
As an investor, it is very important to stay updated with the latest news on investing, stocks, and mutual funds. This section keeps investors up to date with the stock market.
Let us explore the app in detail. The app is available both on the Play Store and App Store. Once you download and open the app, the first screen that comes is the login or SIGNUP option. As a first time user, you need to signup on the app.
The Signup process is very simple and straightforward. You can either signup using your Google account or you can provide your name, email address, and set a password.
Users will see the Watchlist feature of the app on the home screen and at top of the screen, they will see the option to create a portfolio.
When you click on any stock in the Watchlist section, the app takes you to the new screen which shows the stock details like fair value, rating of the stock, recommendation, mutual funds holding the stock, and similar stocks.
In the above screenshot, we can see that the TCS current price is 2097.00 but as per the StockyLab algorithm, the fair price of the stock is Rs 2290.01. The rating of the stock is 80% and 56% it recommends buying the TCS.
You can add this stock to your portfolio from the same screen. You can select the buying price and the number of shares you want to add. It is important to clarify here that, StockyLab is not a trading platform and it helps users create a virtual portfolio only. No transactions are happening in the process.
In the portfolio section, you will see the total amount(virtual) you have invested in all the stocks and the growth over a period of time. You will also see a list of stocks in your portfolio showcasing the number of stocks, the price at which you added the stock, and the fair price of the stock.
The most interesting part of this section is the industry breakdown. As an investor, it is very important you don’t invest all your money in a single industry, with this feature you can track the industry in which you are investing and diversify your portfolio.
Explore: What is the best stock to buy right now?
In this section, you get to see the different picks by StockyLab in different categories. At the top of the page, you get to find out – Most Undervalued stock. The undervalued stock is one that is traded lower than its fair value. The section also gives the upside percentage of the stock from the current price. In the below screenshot, Euro Multivision Limited is the most undervalued stock as per the StockyLab algorithm with an upside percent of 168.6%. If you browse the stock, you will see the price is 0.40 and the fair value is 1.07.
The screen also shows – Highly recommended stocks, this section list the stocks with the highest buy score. Users also get to see Top-rated stocks, these are stocks with the highest rating as per StockyLab’s algorithm. Also, the screen shows the most popular stocks which are defined as the most owned stocks in all users’ portfolios calculated over the last 7 days. At the bottom of the screen, users can find top 5 gainers and top 5 losers for the day.
Users can find any stock using the search feature and either add to the portfolio or add the Watchlist.
What’s New: What it means to be data-driven?
This is a section on the home screen that shares the news related to the Indian share market from different sources like The Times of India, BBC News, The Hindu, etc.
Having gone through the app in detail, let us talk about the pros of the app.
- The interface of the app is very simple and attractive, the blue color is used beautifully by the designers. The data and numbers are shown neat and clear.
- The login/signup is simple and straightforward.
- The fair price value is given with every stock. So investors get a clear idea at what price to buy, sell, or hold the stock.
- The mutual fund holding of the stock is a nice parameter to have for a new investor. Given the stock is held by some of the big mutual funds, investors can make their decision comparatively easier.
Some of the drawbacks we see after using the StockyLab platform are:
- All the stocks are not available on the platform, currently the app show around 1500 stocks registered/traded on the National Stock Exchange.
- The company also recommends penny stocks in this recommendation section without any warning to the user. The platform certainly is more useful to the new traders/investors but showing a stock with an upside growth percent of 167 and not giving a warning about it being a penny stock may harm some investors.
- Investors who invest both in stocks and mutual funds will have to look for another platform to search best for mutual funds in various categories.
The app certainly is useful to the new investors but having used other similar apps, a lot seems to be missing from the app. The app is good if you trust the algorithms of Stockylab and invest based on their recommendation and get good returns. If you are looking for an app, which not only suggests which stock to pick but also give end to end details of the company, you will be disappointed using the app.
StockyLab is only a few months old and we hope the app will provide a lot more features to the users in the coming time.