Intraday Analysis uses 5 mins chart and previous day informations are irrelevant and uses Top Down approach. Identify stocks & define entry and exit. The ideal time to intraday trade is 10 AM – 11:30 AM and 2PM – 2:45 PM
Market Direction:
1)See Global market sentiment. For morning trade look for Asian market sentiment (ASX, AII etc). For Afternoon trade look for European market sentiment (FTSE, CAC,DAX etc). reason for looking global market sentiment is that some global player might get interest in indian market as well.
2)Look for FII recent performance.
3)Indian market – Nifty 50 – see if it is positive or negative.
4)Indian market advance/decline ratio to be identified.
Sector contribution:
1) Select top two sectors as per market direction (performing or non-performing). Donot go with contradicting sectors.
Stock Selection:
1) Sort top 5 stocks from the selected sector as per market direction and also by sorting those with turnover.
Hi sir,
your answers are well framed and appropriate.