How do I choose stocks for intraday trading?
Pankaj Tripathi, Trading since 2011
How do I choose stocks for intraday trading?
So I am going to answer this question to the point.
- Open nseindia.com when the market opens in the morning.
- Go to Sectoral Indices. You can use this link to directly go to this page. https://www.nseindia.com/live_ma...
- Take a look at Sectorial Indices carefully. Find out the weakest and strongest sector by looking at “% change”. In this screenshot, there is most positive percentage change in the “metal” sector and the most negative change in “PSU banks”. (Click on image to zoom)
4. It indicates that we will take buy position in Metal Sector and Sell position in PSU bank.
5. To find out stock in which stock to take the position, click on the Index Name i.e. on NIFTY METAL and NIFTY PSU BANK and you will see stocks of that sector.
6. Find out strongest stock in NIFTY METAL stocks. In the present case, Jindal Steel is the strongest Stock due to the maximum position change in price. You can take a buy position in this stock by putting buy at high.
(Click on image to zoom)
7. Find out weakest stock in NIFTY PSU BANK. In this case, Bank of India is the weakest stock due to the maximum negative change in price. You can take a sell position in this stock at low.
(Click on image to zoom)
Above is the most fundamental method of intraday trading. Be quick to book profits.
Comments
Post a Comment