Technical Analyst - Research - Derivative

Job Purpose

To generate, recommend and provide actionable research on Commodity and Currency markets through trading and investment ideas, report writing, ensuring optimum Risk-Reward Ratio while devising strategies. Communicating all investing and trading ideas through various platforms in order to equip the Sales/Dealing Team with all details necessary for updating the clients.

Job Context & Major Challenges

Aditya Birla Money Ltd. (ABML) is primarily a Broking Company, deals in Equity, Commodity & Currency. Workforce of ~800 spread across ~40 locations with customer base of in excess of 3 lacs. Commodity operations are managed through its 100% subsidiary Aditya Birla Commodities Broking limited. ABML is one of the leading securities trading companies in the country. ABML operates in a fragmented equity broking business and has a daily turnover of close to 3,000 Crores with a market share of 1%. ABM works in a highly regulated environment with a host of regulators like SEBI, RBI, AMFI, FMC, IRDA etc. regulating its day to day operations. In addition to the regulator ABML is also subject to close monitoring and inspection through various agencies like NSE / BSE / NCDX / MCX / NSDL / CDSL etc. ABML also operates in a highly competitive market mainly in fragmented industry with ABML competition from major National Broking houses like ICICI Securities, HDFC Securities, Angel Broking, MOFSL etc. and a range of local Broking outfits.

The Commodity market volumes are much dependent of price of individual commodities traded on exchange with recent data suggesting approx. 50-52 thousand Crore across all exchanges of which nearly 90-92% volumes come from MCX. The core responsibility of Research function of any broking house, is to understand the market conditions/ facts and figures of Global as well as Domestic market before providing any inputs/ trading ideas to the team, so that effective and timely actions are taken in safe-guarding clients position and supporting him in maximising returns.

The key responsibilities of the Research Analyst are:

• To generate trading/ investment ideas in Commodity and Currency segments.
• Maintain constant communication with Branches/ Franchisees/ Business partners, etc. to educate/ update teams on the trading/investment ideas and investment recommendations.
• Connecting with Teams of Business partners/ Franchisee/ Branches on client specific investment requirements.
• Continuous study of the global market environment/ market news & reports/ Economic data’s, etc. and preparing daily reports covering fundamental and technical analysis factors.

The primary challenges faced are:

• Stiff competition by different broking houses servicing same set of clients
• High volatile environment across Asset Classes due to global & domestic uncertainties like wars/ economic & banking policies/ natural calamities, etc.
• Keeping the end-users updated on each and every momentum, as some or the other event keeps on happening globally and it affects both Commodity as well as Currency market.

The critical skill sets required for the role is to have sound knowledge of technical concepts, should be proficient in Technical Analysis w.r.t Technical Patterns, Candlestick Patterns, Moving Averages, Trend Determination, Price-Volume Analysis, Continuation Patterns & Oscillators. Must be proficient in Derivative Analysis w.r.t the understanding & implementation of concepts like PCR, Open Interest, and Option Pricing & VIX along with factoring in FII activity. Keeping self-updated on market fundamentals like economic data’s, central bank actions, government policies, economic events, etc.

Key Result Areas