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Positional analytical methods is for long term based on the trend charts and price charts analysis whereas in intraday analysis is for short term and is it based mainly on the market sentiment, global market, FII participation and market depth and breadth etc.,
Top down approach is used to identify the intraday price movement
1. Look for global market and identify as positive or negative (Asian market and European market)
2. Check FII activity and Indian market (Nifty)
3. Check market breadth (advance/ decline ratio) and depth (Turnover details)
4. Based on the above select 2 sectors responsible for the prevailing market trend
5. Filter 5 stock based on the price and 5 stocks based on the volume
6. Now select 1 or 2 companies based on the above
7. Based on the trend create long or short position and entry and stoploss position pre-defined and stick to that.
Intraday analysis is done to do trading within the day of buying and selling. In this analysis we follow the global market, FII presence, market sentiment etc., whereas in positional analysis we see the trend charts, price patterns and then decide the future price or trend
It is not mandatory to close the intraday position, but is always better to minimize the risk of uncertainty because the next day is different it might be anything high or low, so it is better to close on the same day.
Yes. The global markets impact the intraday price movement because it operate at different times and this is an emotional market. The global market also decides the participation of FII.
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