📋Analysing a Sector by Creating a Custom Index - How to Make your Own Index 📋
You must have heard a lot about analysing a sector but did you ever wonder how to analyse a sector whose Index does not exist in NSE or BSE?
Well, we have a solution, we can make our own Index...
Amazed? Well, it obviously isn't anywhere close to the accuracy of the indices provided to us by the exchanges but this gives us a reasonable idea of the mood of our custom index and the stock included in it.
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& Repost 🔂🔂 before you continue
Let's deep diver...

The How to:
First of all, I'll talk about the process.
For Illustration, I'm taking the Ship Building Sector and using 3 stocks:
GRSE
MAZDOCK
COCHINSHIP
Go to the symbol column and type the Scrip name and Add a '+' sign between all and then Divide the whole by the Total No. of stocks.
Confused? Don't be, it's not as difficult as it looks...
It will look like this

The Magical Result:
The output of the above will look like another normal looking chart.
See:
Now, let's analyse this.
⏺️Big Base
⏺️Breakout
⏺️Retest
This shows us a certain amount of strength in this sector.
That's all we need to check using this chart. Yahan iska role khatam..

Component #1:
#GRSE
Now let's take a lot at individual charts 1 by 1.
This chart is showing strength as well.
Let's see another..

Component #2:
#MAZDOCK
Still Inside the base but this has made a strong candle today as well.
Let's see the last one now..

Component #3:
#COCHINSHIP
WOW!!!
The Strongest 💪 of the 3 and this has been displaying immense strength.
Now, we know all 3 were showing strength, let's go and buy them all with all the money we have...
BIG NOOOO!!!
Showing strength is different but having a low risk setup is different.
Now, you add all 3 in your watchlist on Top Priority and patiently wait for a low risk entry.
That's it from me today...
If you have any doubts, ask them in the comments below, I'll try to answer each query.
Don't forget to Join our Telegram because that is where I ask questions as well:
t.me

Homework:
Make a Custom Index using 3-5 stocks from any Sector and post it here.
Tips:
✔️Use popular stocks with good liquidity.
✔️Use Max 10 stocks
✔️Stocks should be from the same Sector