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intraday screening strategy |
rrk2006hyd
Yellow Belt
Joined: 13 Oct 2010
Posts: 874
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Post: #1  Posted: Wed Jul 27, 2011 4:34 pm Post subject: intraday screening strategy |
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Any one used "Trading Above Open" strategy?
Intraday screening strategy:
1.Looking for stocks which are trading above OPEN open
2. After Opening the market, use Time Frame: 5 to 10mnts
2.use LTP>Open for BUYing
3.Put SL=OPEN or Below OPEN
4.Use LAST<OPEN for Selling
comments are welcome
bye, |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #2 Posted: Wed Jul 27, 2011 8:40 pm Post subject: |
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| Thanks rrk. While I am just a learner, I have heard experts talking about this but they advise waiting till 9.30 am. And, it applies to nifty also. |
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akxsat
White Belt
Joined: 30 Apr 2010
Posts: 123
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| Post: #3 Posted: Thu Jul 28, 2011 3:19 pm Post subject: |
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Dear rrk,
can u pls explain bit more....
also it will be helpful other day traders.
tks, |
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rrk2006hyd
Yellow Belt
Joined: 13 Oct 2010
Posts: 874
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| Post: #4 Posted: Thu Jul 28, 2011 6:56 pm Post subject: |
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| akxsat wrote: | Dear rrk,
can u pls explain bit more....
also it will be helpful other day traders.
tks, |
Trade above open strategy helps to identify bullish stocks..if a particular stock is trading above open means..there is some news or buyers are showing interest in that stock..so we can buy that with SL=OPEN
ex:
1.Select any stock or ur favourite stock
enter after 10mnts or 30 mnts..note down its OPEN price.
2.check whether stock is trading above OPEN or not.
3.Place BUY order
4.Use pivot points any supoort and resistance levels to fix targets.
5.Use OPEN as Stop loss |
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