A useful research note is more than a direction or target. It defines the question, reviews relevant evidence, explains alternative outcomes and states what would change the view.
Start with a precise decision
The instrument, intended horizon and purpose of the research determine which evidence matters. An intraday index question and a long-term equity question should not be analysed through the same clock.
- Security or index
- Holding period
- Information required
- Material constraints
Build an evidence trail
Depending on the topic, evidence can include exchange data, company filings, offer documents, price and volume, volatility, liquidity and scheduled events. Primary information should be preferred when it exists.
- Separate facts from interpretation
- Record important assumptions
- Acknowledge missing information
Make uncertainty visible
The final view should identify the primary scenario, a reasonable alternative, invalidation and key risks. This makes the research reviewable even if the market produces a different outcome.