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Steps to Start Stock Trading in Indian Market.

The prerequisite list to do online stock trading..
1. Need to have a PAN card. If you don't have one you can take help of agent to get one. This takes about 2-3 weeks.

2. Need to have bank account. If you don't have one then I would recommend you to open in one of the big banks like Axis Bank, HDFC bank or ICICI Bank. With this bank you will have facility of doing online transfer to and from your trading account. This takes a weeks time.

Understand from bank about minimum balance you should have to avoid any fine.

3. Open Demat Account.You can either get this from your bank directly. Prefer this option if you want to invest once in a while. They generally charge more commission but is easy for beginners. OR

If you wish to take regularly then you may want to take service of professional brokers. You will get following advantage:
a. Good Service
b. Low Brokerage
c. Professional trading platform
d. Buy & sell Tips
e. Research reports
f. And many more depending on the broker.
Some examples of the brokers are like Kotak securities, Indiabulls, Sharekhan etc.
Fully understand brokerage, demat charges, account maintenance charges, trading platform charges, amc charges and any other charges that you may incur.This takes weeks time.
For NRI'S I would recommend to go with ICICI as they can provide you with integrated solution for steps 1-3.

4. Transfer money from your bank account to trading account. This can be done either by cheque (2-5 working days time) or by internet transfer (same day).

5. Once you have got all the three, then you can start investment/trade. If you are online user then you can trade yourself or else you may call your broker to place a trade on your behalf.

6. Then comes most difficult task is stock selection and their entry and exit point. You can either do research on your own with technical or fundamental analysis or can take advise of your broker. But remember most important thing. Nobody care about your money more than you do so research more before placing a trade.

7. Best way to start investing is to start with mock/Paper trading. Do it for at least a month before you start actual trading. Increase duration of paper trading till you get full confidence.

Total time is a about a month. Remember you should have a permanent address to do the same.

Some examples of permanent address are:
a. Electricity bill
b. BSNL/MTNL land line bill
c. Driving license
d. Passport
e. Voters Identity card

All the best and Trade Safely.

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