Intraday Trading Strategies for Friday, 8 March 2019

When it comes to intraday trading, the ability to predict the market's movement accurately is key. Below, I'll provide a straightforward strategy that achieves an accuracy greater than 80% for the given day. This strategy is designed to help you navigate the complexities of the financial markets effectively.

Step-by-Step Strategy

To implement this strategy, follow the steps outlined below:

Step 1: Check the Nifty Direction

First, determine whether Nifty is moving in a Bullish or Bearish direction. This information is crucial for deciding which stocks to trade. Apply this strategy only when Nifty is either Bullish or Bearish.

Bullish: You should execute your trades when Nifty is Bullish. Look for stocks whose open price matches the low price after 10:30 AM. Once you have identified the stock, place a buy order with a stop loss of the low price minus 0.01 percent. Hold the position until 3:10 PM, or if Nifty switches from Bullish to Bearish. Bearish: When Nifty is Bearish, find stocks whose open price equals the high price after 10:30 AM. Short these stocks with a stop loss of the high price plus 0.01 percent. Maintain the position until 3:10 PM, or if Nifty shifts back to Bullish.

Step 2: Wishing You the Best

I hope this article provides you with the insight needed to execute successful intraday trades. Happy trading!

Additional Criteria for Stock Selection

For those seeking an edge in intraday trading, here are additional criteria to consider:

Volume Criteria

A critical factor in stock selection is the trading volume, which should exceed 1 lakh shares. High volume indicates a larger number of transactions, suggesting liquidity and reliability.

Trading Above 10 DEMA

Stocks trading above 10 Day Exponential Moving Average (DEMA) are more likely to maintain their upward momentum, making them attractive candidates for long positions.

Gapped Down Open

Look for stocks that open at a gap down. After 10-15 minutes of trading, if the gap down is sustained, you can consider buying the stock with the day's low as the stop-loss.

Bollinger Bands with Trendline Confirmation

Examine stocks crossing above the midpoint of Bollinger Bands and breaking a trendline confirmation. This signals a potential buying opportunity.

All these criteria are explained in my recent video on my YouTube channel. I encourage you to watch to gain a deeper understanding.

Positional Trading vs. Intraday Trading

For consistent earnings, I recommend focusing on positional trading in Nifty futures. Aim for gains between 100 to 1000 points per trade. Avoid wasting time and resources on intraday trading if you seek long-term profitability.

Stock Recommendations

Here are some stock recommendations for consideration on Friday, 8 March 2019:

ACC - Above 1580 UPL - Above 886 RBL Bank - Above 642 Petronet - Above 235 LIC - Above 495 ITC - Above 293 Indigo - Above 1257 HDFC Bank - Above 2131 Bajaj Auto - Above 2963

Please note all recommendations are in cash. Investments in stock markets come with inherent risks.

Final Thoughts

Stay informed and continuously learn to enhance your trading skills. If you have any questions, feel free to search for me on Telegram. I'm available on my profile for beginners and those seeking to prevent losses in the market.