Navigating Stock Market: Best Charting Software in India

Navigating Stock Market: Best Charting Software in India
Best Charting Software in India

Hard work is not the sole requirement for success, hard work combined with smart work is. Previously, traders used to analyze conventional candlestick chart patterns and trade accordingly. But, this simple pattern identification is not enough, in-depth technical analysis is required to be safe from the trap of false signals. To gain higher accuracy in technical trading, advanced charting software has been introduced, which has made work of traders seamless. 

Improved software eases the process of technical trading and allows the use of several reliable tools that make the research more enhanced. 

With the increased interest in trading and investing, online trading software has surged. But, with so many options, traders and investors are often in a dilemma. They don’t know which is the best charting software for them. Are you also finding it difficult to choose an online broker or charting software? Don’t worry, by the end of this blog you’ll find what you are looking for. 

What is Charting Software? 

Charting software is the heartbeat of trading. They equip traders and investors with price movements of the stock, commodity, and indices. Be it conventional traders or advanced traders with unique approaches, they all need charting software. In the end, the traders take positions based on a certain candlestick chart pattern which align with their technical analysis study. 

Charting software significantly helps traders identify patterns, do trend analysis, and make informed decisions based on previous price movements. The recurrence of patterns helps in predicting future movements of the price. 

But, one needs to check charting software thoroughly before relying completely on it. There are several criteria that a trader must look into the charting software for a seamless trading journey. The software should not only give traders valuable insights regarding price movements but should also act as a great add-on to the trader’s study. 

How to choose the best charting software for trading? 

How to choose the best charting software for trading? 

We all tend to seek perfection, but do we really know the meaning of perfection? When it comes to traders choosing adequate charting software, the human tendency remains the same. Traders seek the look for perfect charting software without knowing the definition of perfect. To select the charting software for your trading journey, here is what you should consider: 

  1. Know your Goal: Never lie to yourself about your aim for trading. When you sit on your desk to find trades, your aim for finding trades should be clear. This aim refers to whether you want to be a part-time trader by doing swing trading. On the contrary, you want to be a full-time trader who actively indulges in intraday and scalping. 
  2. Chart features: Different traders use different types of chart patterns to study price movements and take positions. Always go for advanced charting software with different chart features. These features are advanced indicators, different time frame data (monthly, daily, weekly, yearly), and drawing tools. 
  3. Customizable Option: When you learn to mold the study according to your experience, you win the game of trading. To achieve this, you need to use charting software that gives you the option of customizing charts. Be it adding some features or removing some features. Every trader has a different trading style, one might find an indicator important and reliable, whereas another might not. So, the charting software should give you the option to adjust your requirements accordingly. 
  4. Customer Support: When you trust a broker with your money, you should seek a broker who is ready to take responsibility for your money. Always go with charting software and broking software that has an excellent support team. In the time of technical glitches, the excellent support teams come to the rescue for traders. Always go for the broker who is willing to provide valuable service. 
  5. User Interface: Trading is already complex, but trading software shouldn’t be. Choose a charting software with an easy to understand user interface. It will save a handful of time if it aligns with your knowledge and trading goals. 

Best Charting Software in India 

Best Charting Software in India 

In India, as the interest in trading has increased, the demand for advanced trading software has proportionally increased. That is actually necessary to excel in a trading career. Today, traders are given ample options to choose their online broker, but very few good options in charting software are there. 

We have made a list of the Best Charting Software in India to make your work a little easier: 

1. Trade Tiger by Sharekhan

Sharekhan is one of India’s leading as well as veteran brokerage firms. As time has passed, Sharekhan has offered exceptional services to their users compared to new brokerage firms. Its proprietary software Trade Tiger, is known for its user-friendly interface and advanced features. A Plethora of experienced traders use the trade tiger for their research. Here’s how Trade Tiger is an exceptional charting software: 

  • Technical Analysis Tools: It identified the need for advanced technical tools before it was actually a thing among conventional traders. Trade Tiger provides comprehensive technical analysis tools like multi-timeframe data, advanced indicators, drawing tools, trendlines, patterns, and automated trade options. 
  • Seamless Integration: TradeTiger software is directly integrated with Sharekhan, it allows traders to take positions based on their study directly on the Sharekhan platform without any hassle. 
  • Easy to place bulk orders: Trade Tiger software is integrated with Sharekhan and is designed especially to place seamless bulk orders. Whether it is a beginner or an expert level trader it is suitable for both with minimal maintenance and brokerage. 
  • MTF is easy: Margin Trade Facility (pay later) is easily accessible in Sharekhan. It makes it easy for traders to get good gains without putting in much capital.  
  • Support for Users: The Sharekhan team is relentlessly answering queries of their investors and traders to make their experience seamless and easy. Individual support and technical assistance help traders get familiar with the platform. 

2. Dhan Trading App

Dhan is relatively a newbie in the trading market of India compared to Sharekhan. The charts of the Dhan trading app are integrated with Tradingview and provide built-in charting services.  Here’s how dhan is widely used by traders of all levels despite it being a new trading app: 

  • User Interface: After Sharekhan, the Dhan trading app provides a good and user-friendly interface to its users. Especially, beginner traders find it extremely easy to use the Dhan trading app and to carry out their research. 
  • Mobile Convenience: Very few charting software are accessible on mobile, and the Dhan Trading App is one of them. Dhan allows traders to access charts on their mobile which makes it easier for traders to analyze price movement at any time without worrying about big screens. 
  • Support and resources: The Dhan reading app has an excellent support team, they make sure their users’ queries never go unanswered. They offer support guides, educational resources, and tutorials on their social media handles to empower their users. Additionally, constant support to understand messages and calls is provided by expert teams. This makes it easy for traders and investors to understand the platform. Followugnly, excellent R&M support is provided to the investors to give them immediate market insight and make their portfolios strong. 
  • Advanced technical tools: The charts are affiliated from the trading view in the Dhan trading app. These charts have advanced technical tools that traders can use for enhanced accuracy. The ease in trading comes from different accuracy indicators, that’s what Dhan offers here. Following, the charts offer an analysis of the stocks, derivatives, and commodities in different time frames. It makes it easier to analyze how prices reacted in different circumstances. 

In a nutshell 

Finally, when it comes to selecting the best charting software for trading in India, there are several noteworthy solutions that cater to various trading demands. Sharekhan’s TradeTiger and Dhan Trading App are well-known for their dependability and user-friendliness. Sharekhan has built a solid reputation as a reliable brokerage service by providing the user-friendly TradeTiger, which is a fantastic alternative for individuals who value a comprehensive set of technical analysis tools and features. The Dhan Trading App, on the other hand, offers a mobile-first approach and is praised for its convenience, real-time data, and user-friendly design, making it an appealing choice for traders who like trading on the go.

Finally, the decision between Sharekhan and Dhan Trading App is based on your trading style, experience, and preferences. Each of these platforms has its own set of advantages, making them dependable choices for traders and investors in the volatile Indian market.

There are a lot of trading apps in the  market apart from thee two, you can chose any of them that fully cater to your trading style and goals. 

Frequently Asked Question 

What Trading Chart is best in India? 

Candlestick charts are widely regarded as the best for trading because of their detailed data presentation. These charts show the starting, closing, high and low prices for a certain trading period. This enables traders to make quick decisions based on price fluctuations and certain patterns. 

Which Charting Software is best for Intraday? 

For intraday or any other type of trading, Sharekhan and Dhan are the most recommended charting software. This is because they provide access to all technical tools and also aid in multi-time frame analysis. 

What charting software do professional traders use? 

The Best Charting Software in India used by professional traders is Trade Tiger by Sharekhan. 

Can you deal directly with TradingView in India? 

Yes, the Dhan trading app allows you to trade directly with TradingView in India.  

Is Zerodha better than Sharekhan? 

In terms of technology, both Zerodha and Sharekhan are excellent for traders and investors, but in terms of user interface and technical tools, Sharekhan is the clear winner.

Is Sharekhan safe or not? 

Sharekhan, as a depository participant, is also registered with depositories such as CDSL and NSDL, through which it provides demat account services. As a result, Sharekhan is registered with all depositories and regulatory agencies, and it is reasonable to say that its existence may be trusted.

Which trading platform is best for charts?

Currently, it is said that tradingview and Trade Tiger are the top charting software in India. 

Which is better, Zerodha or Trading View? 

TradingView emphasises user experiences, whereas Zerodha Kite concentrates on features. It all depends on which functionalities you would like. While TradingView provides both add-ons and core functions, Zerodha Kite focuses on customisation.

Why do traders prefer Zerodha? 

It does not charge a commission on equities deliveries. Zerodha’s website provides highly transparent charge information, which is reinforced by an easy-to-use fee calculator.

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