WITH BANKNIFTY BREAKING TODAY I FEEL BANKING SECTOR WILL SHOW A BIT OF NEGATIVE TOMORROW. IM LOOKING AT HDFC BANK SHORT BELOW 1539 FOR A SMALL SCALP OF AROUND 8-9 POINTS. WHY I EXIT SHORTS EARLY IS THAT I HAVE OBSERVED THAT GOOD STOCKS SUCH AS THESE TEND TO REVERSE QUICKLY IN OVERALL BULLISH MARKETS. IL BE KEEPING A STOP OF AROUND 1545-1547 LEVELS DEPENDING ON...
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...
TATASTEEL IS SHORT BELOW 439.40 WITH A STOP OF 441.50-442 TARGET OF 436-435.70 ALWAYS REMEMBER BREAKDOWN SHOULD BE WITH VOLUME RSI SHOULD BE NEAR OR BELOW 35 LEVELS.
VEDL has seen a good day or two of range bound trading. I f VEDL crosses above 229.65 with volume tomorrow il buy for a scalp trade with targets of 231-231.50 and a stop of 228.30. i will trail my stops as and when these levels are reached till RSI turns downwards!
BEL has been a very broad range and going nowwhere but yesterdays close had a bit of volume in it. Tomorrow if BEL crosses 182.80-182.90 levels with good volume and RSI crossing to above 70 levels im going to buy it for targets of 183.95-184.40. Stops will be at the breakout candle low. If the trade risk reward ratio is uncomfortable its better not to trade it or...