What we cover
Stage2Stocks covers the equities listed on the National Stock Exchange of India: about 2,600 companies, of which 2,123 carried a stage after the last close (22 Oct 2026). ETFs, REITs and InvITs, bonds and other non-equity securities are left out, because stage analysis reads the trend of a business's shares.
The list is reviewed against the NSE's own register of listed companies: new listings are added, and companies that are delisted drop out of the screens and lists.
Each stock sits in one of 11 sectors and about 135 industries. The groups start from the NSE's own industry classification and are arranged so that every industry belongs to exactly one sector, which keeps sector and industry figures consistent with each other.
When the numbers change
Once a day, after the close. The evening run starts at 4:00 pm IST on every NSE trading day and normally finishes within the hour. When it does, every page, screen and list refreshes, and the evening market wrap goes out.
Everything on the site is end-of-day: it uses each day's final prices. A stock "appearing in a screen" means it met that screen's conditions at the last close. The only real-time part is the live desk, which uses your own broker's feed during market hours.
Where the numbers come from
- Prices and volume. Daily open, high, low, close and volume for every stock and for the Nifty 50, with history back to 2018 for individual stocks and to 2007 for the market as a whole.
- Corporate actions. History is adjusted for splits, bonus issues and demergers, so a 1-for-10 split never reads as a 90% fall. Every evening a check looks for any move larger than the exchange's price bands allow, and repairs that stock's history from adjusted data.
- Classification. Sector and industry come from the NSE's industry classification, reviewed as new companies list.
- The F&O list. Which stocks trade in the NSE's futures and options segment, and their lot sizes, comes from the NSE's own file and is refreshed every evening.
What we compute
- Stages. Each stock's stage follows Stan Weinstein's stage analysis: the weekly chart, the 30-week moving average, and where the price sits against both. Weinstein published the method, so we describe it openly in the course. Our classifier is built to read the trend rather than the noise of a single week.
- Relative strength rank. Every stock is ranked from 1 to 99 against the rest of the NSE on price performance, after every close. A rank of 90 means the stock has outperformed 90% of the market.
- Setup score and early entry. The setup score rates the quality of a Stage 2 trend, and the early-entry badge marks trends that are still young enough to act on. Both come from in-house models, tuned over years of testing on NSE data.
- The market read. Built from breadth across the whole market: how many stocks are in each stage, how many sit above their moving averages or at new highs, and how that is changing, rather than from the index alone.
- Sector rotation. Each sector's and industry's strength against the Nifty 50, and the momentum of that strength, plotted on the rotation graph.
Every number on the site is computed from the data, never typed by hand.
How it is checked
After every evening run, automatic checks compare the numbers with each other: the market's stage counts against the stocks behind them, each sector's and industry's percentages against its members, and every price bar, score and rank against its valid range. A broken check alerts us that evening, so a wrong number is fixed at its source rather than found by a reader.
If you do find a number that looks wrong, please tell us at hello@stage2stocks.com with the page and the stock.
What it cannot tell you
- What to buy or sell. Stage2Stocks describes where each stock stands in its trend. It gives no tips, calls or targets, and the decisions and the exits stay yours.
- What happens next. A stage describes the trend so far. We do not publish win rates or backtested returns, because no past pattern promises the next one.
- Anything a chart doesn't show. Results, news, valuation and the company's accounts are worth checking before you act on any chart.
- Anything intraday. The numbers are end-of-day, apart from the live desk.
Who makes it
Stage2Stocks is built and published by Ashutosh Shah, independently, from India. It is not affiliated with the NSE, the BSE or any broker, and it is not registered with SEBI as an investment adviser or research analyst. The disclaimer has the full risk disclosure.
Questions people ask
When does Stage2Stocks update?
Every NSE trading day, after the close. The evening run starts at 4:00 pm IST and normally finishes within the hour; every page refreshes when it does. Nothing changes during market hours.
Which stocks are included?
Equities listed on the National Stock Exchange of India, about 2,600 companies. ETFs, REITs and InvITs, bonds and other non-equity securities are left out.
Are prices adjusted for splits and bonus issues?
Yes. History is adjusted for splits, bonus issues and demergers, so a split never reads as a crash. A nightly check looks for any move larger than the exchange's price bands allow and repairs that stock's history.
Why does a stock show no stage?
It is too new. A stage is read from the weekly chart, so a recent listing needs enough weekly history before its trend can be classified. Until then it shows as too new to classify.
How do I report a number that looks wrong?
Write to hello@stage2stocks.com, or use Send feedback in the footer. Tell us the page and the stock; we trace the number to its source and fix it there.