Intraday: Today my bias was Up. Mkt open up, so was in a plan to buy at BPB of RH, but couldn't get.
1) Long on BOF of PDH as layer over layer. Closed when it didn't cross RH.
2) A Short on BOF of RH, see the glimpse of Inverted hammer in 15 min. Trade didn't work. Got out at no loss, as it was a CT trade.
3) A Long on BO of RH. Closed in the end.
TBP: For stock specific, I am planning to find out High Relative strength stocks for day trading. I will trade bullish stocks when Nifty is in Uptrend & Bearish when my bias is down for nifty. Criterion are- Like Daily Average Volume > 500000, Stock above MBB (20 MA), Stock in minor Uptrend for Bullish & minor downtrend for bearish trade. I will find out 3~4 stock everyday & will trade only opening range BO method for them. No other trade.
Your ideas are welcome..
1) Long on BOF of PDH as layer over layer. Closed when it didn't cross RH.
2) A Short on BOF of RH, see the glimpse of Inverted hammer in 15 min. Trade didn't work. Got out at no loss, as it was a CT trade.
3) A Long on BO of RH. Closed in the end.
TBP: For stock specific, I am planning to find out High Relative strength stocks for day trading. I will trade bullish stocks when Nifty is in Uptrend & Bearish when my bias is down for nifty. Criterion are- Like Daily Average Volume > 500000, Stock above MBB (20 MA), Stock in minor Uptrend for Bullish & minor downtrend for bearish trade. I will find out 3~4 stock everyday & will trade only opening range BO method for them. No other trade.
Your ideas are welcome..
Deven
ReplyDeleteI read your reply to TBP. If you want to trade only opening range BO, you may try following. You may be aware of this. Look for previous day's highest gainer on Nifty midcap index if bias is up, else highest loser. Choose only one or two. If you choose more, concentration on them will be a problem. Then trade the IR BO. Observe it for some days and study it properly before actual trading.
http://www.nseindia.com/live_market/dynaContent/live_watch/equities_stock_watch.htm
Per this, todays highest gainer is Unitech and on second number MRF. See how they behave tomorrow.
URD
Thanks URD,
DeleteWill watch both of them tomorrow, but for me, Unitech & MRF are a No No as its below MBB.
From my screening of Volume> 500000, Close> 20 MA, ATR> 10 (for day trading), i found good patterns on below stocks:-
1) Finolex cables,
2) Lupin,
3) NBCC
lets watch them tomorrow for Initial Range BO.
Thanks,
Deven Malhotra
A very informative post from trading point of view this is. To learn live updates on stock market on social media platforms follow epic research .
ReplyDelete