Hi Kaustubh, thanks :-). You have a good question – Whether equity research analyst use technical analysis? I missed including this completely in my post. Equity Analyst primarily use fundamental analysis and NOT technical analysis for stock recommendation. The reason comes from the clients they server. Equity Research clients are mutual funds, insurance, pension funds etc. These clients mostly have long term time horizon. Using fundamental analysis, an equity analyst is able to guide the clients from long term investment point of view. However, the technical analysis is looking for trading opportunities that are short term in nature.