Take the top down approach.
1. Identify the market direction (Global markets such as Europe’s; FII activity using EOD data of previous day’s and the current direction of NIFTY50) Then check the market breadth using the advance decline ratio (price wise) and the turnover basis
2. Pick the index contribution. Select 2 top losers / gainers as per the above sentiment. INDEX & STOCK SENTIMENT MUST BE IN LINE WITH MARKET SENTIMENT
3. Pick top movers price wise and turnover wise. Find a common stock in both sets and trade in them