Select a good Stock for day trading in Indian stock market
- It is always advisable to take long positions in a bullish market and go short in a bearish market and hold on to it until the market remains in the same direction and exit once it changes its direction or if your target is achieved.
- To take up long/Short positions one should look at the volumes, the %gain, its open, low, close, high, average, pivots, resistances, supports and other parameters besides the technical’s into consideration. This should be considered with different market conditions and timings so as to make an effective decision.
- One should avoid taking reverse position of any moving stock hoping that it reverses as per your wish.
- Markets do not listen to anyone. Go with the Market trend.
- Make a strategy which gives maximum returns and less losses during the noise or whipsaws of the market.
See that the particular stock has enough liquidity that is it should be trading in good volumes.
If the stock is opened in the green , that is if the open price is greater than the previous Close it is more likely to go up.
check the low of the stock which should preferably near the close, check for the pivots, supports and resistances. Check the long term chart.
Avoid stocks that have both open and high at the same price and trading lower, it has the tendency to go down.
Make sure to trade above the moving averages.
The opposite is true for short trades.
see that the open is less than the close and high is around the close. , it should be trading below the moving average.check out for pivots, supports and resistances.
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- How to select a good stock for day trading in Indian stock market
- what is the Best intraday trade?
- How to enter a good intraday stock in trading?
- How to exit an intraday trade
- What is Intraday trading?
