Upholding the Roots of Financial Foundations : Finotsav 2021
Siddharth Singh Bhadauria | Aug 16, 2021
“College graduates spent 16 years gaining skills that will help them command a higher salary; yet little or no time is spent helping them save, invest and grow their money.”
-Paul H. O’Neill, U.S. treasury secretary
After successfully hosting four successful webinars in the series known as “FINOLOGY TALKS,” with a vision to spread awareness on finance, stocks, and various domains of economics among NITR Junta, the Finance club successfully conducted its flagship event Finotsav in virtual mode between 31st July 2021 and 6th August 2021. Finotsav was the flagship event of the Finance club of NIT Rourkela partnered with StockGro. This was the first time NIT Rourkela was witnessing a Finance Fest. Finotsav served as a platform to spread financial literacy among finance enthusiasts. Telegram was the mode of communication between the participants and the organizers during the whole event. All the information links were updated in the group, and everyday organizers used to have a query session to solve all the participants’ problems.
The sponsors of Finotsav were Elearnmarkets, Mindfluencing Trading, Padhai Op, Ecrivons Graphology, Autotech, and StockGro.
Team Monday Morning brings you a vivid coverage of the entire event:
DAY - 1: WEBINARMANIA
The event kicked off on 31st July with two webinars continuing the webinar series of the finance club known as the “FINOLOGY TALKS.”
Webinar 1: Stock Market Basics
The webinar started at 11.00 AM IST as a live stream on the Youtube channel of Finance Club with the day’s host, Neeraj Rathod, and Abhinandan Mishra (members of the Finance club), briefing the audience about the agenda of the webinar. After the initial introductions, the hosts began the event by introducing the webinar’s speaker Dheeraj Sharma. Dheeraj Sharma is NISM Certified Equity Research, Analyst. He is also NISM Certified in Equity Derivatives and Trading Course with 2+ years of full-time experience in the stock market. Basic stock market terminologies and trading fundamentals were beautifully explained, with real-life situations as an example in the webinar within a short time limit of one hour.
Some significant highlights of the webinar were -:
In the world of personal finance, the stock market investment itself is a vast ocean. Whether one gets stranded in this ocean or sees it as an ocean of opportunities is that person’s perspective. Businesses are long-term; one will earn a return from the equity in the long-term. It is indeed a simple and clear message to understand. And then, we turn our attention towards the returns we can get from equity.
It was an interactive session. The attendees were able to ask their queries in the chat section of the Youtube live stream, to which the speaker responds at regular intervals.
Webinar 2: Masterclass for intraday trading
The second webinar began at 6:30 PM IST as a live stream on the Youtube channel of Finance Club. Rituraj Tripathy and Pratyush Sahoo, the hosts, started the second webinar session with a short introduction of the things covered in the webinar and eventually brought on the speaker for the day Dheeraj Sharma. It was a combination of deep technical and fundamental analysis of trading portrayed very clearly by the speaker. It was a masterclass for a beginner to develop Intratrade strategies.
Some significant highlights of the webinar were -:
Intraday trading is all about buying and selling one’s holdings during the same trading day. The main objective of the trader is to make profits by taking advantage of stock market movements. Hence, the level of profits depends on fluctuations in the prices of the stocks that the trader holds in one’s portfolio. To perform intraday trading, one needs to have an active online trading account. Intraday trading involves the buy/sell orders being specified by the person who is engaged in trading.
While doing intraday trading, a person should always move toward earning profits on the expected lines. When the overall prices are rising, one needs to look for stocks whose prices will increase accordingly. Conversely, a market slump calls for identifying stocks whose prices are going to fall. It has been noticed that most of the intraday traders miss out on the research part. Undertaking quality research happens to be an inseparable part of intraday trading. One should start with identifying an index and then locating industries in which the person is interested. Afterwards, create a list of liquid stocks. Follow-up with the fundamental and technical analysis can be done to arrive at the right stocks.
The speaker also made the viewers aware of some of the key assumptions that one must be aware of always is –
- Markets Discount is Everything
- How is more important than Why
- Price move in trend
- History tends to repeat itself
DAY 2: GETTING STARTED TO TRADING
Demo of Stockgro app
Satyam Kumar Patra, the evening host, started this session at 6:00 PM IST on 1st August by introducing Nava Krishna, the community head of StockGro. StockGro is a social and gaming platform for retail investors to connect with peers, friends, and influencers and build investment strategies to generate excellent returns. On the StockGro platform, users have the advantage of building virtual portfolios to compete & collaborate.StockGro is a unique educational initiative to democratize investment in the Stock Market, helping investors learn trading & investments in a real-time trading environment with virtual money.
DAY - 3: TRADE ON “RULING THE DALAL STREET”
This was the signature 5-day event of Finotsav which started on 2nd August 9:00 AM IST, and it was basically an exciting virtual trading competition in which every participant was to be given virtual cash worth ten lakhs on Stockgro, and trading can be done over the top 200 companies listed in the NSE. A participant can buy or sell N number of shares of any company for N number of times in a day. The participant ending up with the highest profit per cent by the end of 6th August would be declared the competition’s winner. The event received a great response by students all over India, within a week there was more than 600 registration by students all over India.
The final scores of the top 10 contestants are listed below
Team Monday Morning congratulates all the winners!
Aditya Sekhar Samal, one of the finance enthusiasts who had attended this fest, had the following to say
This was my first event related to the stock market and trading. On the first day of the event, we were taught about the stock market basics, how it works, and its perspectives. The same day in the evening, we learned about the trading insights; more focus was given to intraday trading as the event was purely based on that. The next day was the day to make a familiar with the platform of the stock group with the mock trading was going to be held, and the next day onwards, the simulated trading started from 9 a.m. The event continued for 2 to 3 days, and finally, it ended on the 6th of August. It was an excellent experience for me; this event made me learn about so many insides of the stock market, and I got to know many things about trading. I think it will be beneficial while investing in the future.
THE ORGANISERS PROSPECTIVE
Vardhan Gudla, the Vice President of the Finance Club NIT Rourkela, had the following to say
The event went well and can be considered successful, despite falling slightly short of our expectations. Our main goal was to publicize the event so that people from all over India knew it, and we succeeded. Even though this is the first edition, we received 603 registrations in D2C in less than a week, which we consider our most outstanding achievement. As Vice-President, it was a difficult task to coordinate with my team and get things done, especially given the online mode of conduct. As a result, many issues have arisen, and we have attempted to address them as thoroughly as possible. There were many issues that we have faced while conducting the event.
We hope that Finotsav 2022 will be conducted offline, there are much bigger plans that the members of the Finance Club are drawing. Without revealing too much of it, I can say that our 2nd edition will be more enriching, engaging and will reach your expectations. Finotsav 2022 will have a ton of events, webinars, and much more.
Team MM appreciates the team of FINOTSAV for organizing such a successful event and wishes them good luck for all their future endeavours.
Designs by – Tejaswini Sahu