Investing advice for complete beginners..
Hello, I am a software engineer with 2 years experience. I want to start investing in stocks, mutual funds or any other areas. I don’t even have a demat account. What would be your advice to complete beginners who wants to focus on their financial management and start investing? What would be some best areas to invest and start learning? Your advice is really needed and will be very helpful.
You can learn basics of technical analysis - Learn about candlesticks, patterns, Moving averages, RSI, Volume, Trend channels, support resistances.
Fundamental analysis- learn how to read balance sheets, PnL statements, understand how policies and economic factors affect businesses.
Youtube is a great place, endless content.
There are enough videos on YT like from LLA, AnkurWarikoo etc. You can go ahead and watch them.
Safest bet to start as beginner is mutual funds. What in mutual funds would be explained by above videos
First step -> Have a term life insurance of coverage equals to your salary x 10. Take coverage till age 60. Add critical illness rider and nothing else.
Second step -> Have a health insurance coverage for yourself and dependent family.
Third step -> Before investing in stocks directly opt for mutual funds. Invest 50% in Nifty 50 index fund, 50% in Flexicap fund.
Fourth step -> Invest in good bluechip stocks directly.
Corpdaaku
Student
6 months ago
You can book a session with me on topmate. Charge- 999 INR
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