Selecting Scrips For Intraday Trading (My way)

[ajish_asok]

Hi fellow TJians,

This is my way of selecting scrips for day trading(cash market) purpose, Others input are also preferred.

Step 1: Open Nseindia.com

Step 2: wait till 9.25 am (9.30 prefered)

Step 3: (Optional) u can either check which indice is trending by clicking the button seen left side of the market watch in nseindia.com home page. Also u can identify which sector is moving than major indices and also able to view line chart of those indices.

Step 4: select equity stock from live market ---> Live Watch

Step 5: By selecting from drop down menu in view select the indice u wish to trade (For eg Nifty 50,Nifty Next 50,Niftymidcap 50). I prefer FO stocks from Others which contain 172 scrips in the drop down. On top of window it also shows how many scrips are advancing and declining or unchanged. By clicking the %change button, one can select advancing/declig

Step 6: If Majority of the stocks ie above 60% of stocks is advancing then i look for long setups so i will look to gather the stocks which is trading 1.5%(2% prefered for momentum trading ) above previous day closing and is added to market watch.Vice versa for shorts.

Step 7: Then plot it on the charting software and look for good setup to go long/short as per trading plan.

Step 8: scan FO stocks every 30 min and add/delete the scrips that do not meet 1.5% above/ below criteria.

I hope this post will be a help for some one who is struggling to find a good momentum scrip to easily select the scrip and trade the momentum

If some one have other great ideas for selecting a scrip for intra day trading pls post...

Thanks N Regards

njoy Trading

Aj

 

[ajish_asok]

Another way to identify the volatile scrips are

Login to Economic times website and select market stats from Markets drop down menu. and select top gainers or top losers and use filter which is of very good use one can select scrips with price range from 0 to 10, 10 to 100, 100 to 500 and 500 and more. Also enables to select large cap, midcap and small cap stocks and also various indices. it also list volume and days high and low long with %change and net change.

One can easily select a high moving or volatile scrip from this page.

Hope this update help someone to trade and make gains in the market.

Thanks n Regards

Aj

 

[mixter]

Sharekhan Platform - Matketwatch window

One for NSE -- One for Biglist -- open two windows

Wait for First 5 minutes . till 09.20 completed.

Use % change in Nse / Biglist windows by clicking the % and this will show highest % movers for buy or sell .

Use your own strategy and apply that one on these selected stocks - Highest % movers UP or Down .

If Nifty moved UP more than 40 points in the first 5 min , the UP % stocks have more chances to move with the Nifty during the day.

Take note of ATR(14) on daily and fix the tgts based on this atr range.

If ZEE ltd shows 1 % moved in the first 5 mins then ,.....

Example : If ATR of ZEE ltd is 12 pts then , if the first 5 min high-low is 5 points moved already, then chances are the remaining 7 pts (12-5) is a viable tgts .

Hope this helps.

 

[TraderRavi]

Another way to identify the volatile scrips are

Login to Economic times website and select market stats from Markets drop down menu. and select top gainers or top losers and use filter which is of very good use one can select scrips with price range from 0 to 10, 10 to 100, 100 to 500 and 500 and more. Also enables to select large cap, midcap and small cap stocks and also various indices. it also list volume and days high and low long with %change and net change.

One can easily select a high moving or volatile scrip from this page.

Hope this update help someone to trade and make gains in the market.

Thanks n Regards

Aj

Thanks :thumb: