Intraday Analysis is analyzing the market to buy and sell instruments on the same trading day. Need to do top down approach and follow the market sentiment / momentum for analysis.
Intraday Process
– Identify the World market, Asian market trend, positive or negative
– Check FII activities in the recent past (two to three days).
– Check Indian market trend – positive or negative
– Check Market Breadth (Advance decline ratio) based on price.
– Check Market Breadth (Advance decline ratio) based on turnover.
– Identify a sector whose trend % is closer to market %
– Pick top 5 stocks whose volume is high
– Pick top 5 stocks whose change in price % is high
– Pick a stock from the above 5 and choose to be long or short according to the trend. Ensure to keep a target and stoploss price as well.
