I have a very simple Intraday strategy which works really good. I would like to know your comments, advice or any faults you think my system might have, do paper trade this before actual trading.
After market hours I scan stocks in the 15 min time frame to find out which stocks have broken above or below a range of say 20 bars behind. Meaning from last 300 mins...
ZEEL is forming 3rd impulsive wave. Wave 2 has taken a reversal from a 61.8% Fibonacci ratio.
If zeel is forming wave 3, we should at least get a 161.8% extension of wave 1.
Invalidation: Wave 2 can never overlap the starting point of the wave.
Is Yes Bank Making A New Low?
The YES Bank stock has started falling for a long period. If it breaks the consolidation area, it will keep collapsing, and we may see 10 - 9.60 levels soon. It's under that range from the last 17 days.
But according to price action analysis, it will try to jump up to make a new LH. It can be nearby the 12.15 - 13.5 range....
Go long to maximise your profits.
Please share with your family and friend if you like the idea to go long. This chart is only for education purpose. Consult with your financial advisor before making any investment.
Indian economy is recovering rapidly after corona virus pandemic crash but rising crude oil prices and inflation is a issue of worry for Indian Equity Market.
Things agaisnt Indian Stock Market
Rising Crude Oil Prices
Crude Oil prices are at high of 3 years, after 2018 it is first that Brent crude crossed $ 85 mark on London Exchanges.
The shortage of Gas...
This is one of the fundamentally strong company with consistent good returns.
The price is near the 2018 high and facing little resistance. With perfect risk: reward it can deliver minimum 25% returns in very short time. The price can move like Tata motors did.
Multiple rejection from 38100 zone.
It can lead to breakdown if it breaks the trendline as monday market opening can be flat according to global indices, or one can expect a good upmove if it takes support at the trendline.
Can be decided according to 15 min candle closing.