Intraday NIFTY lovers

Part I :

Different rules for intraday (By my own experience, completely my own views)

Timings : 9.45 a.m. to 11.30 a.m. and 1.30 p.m. to 3.00 p.m.

1. Intraday requires quick movement of stock in any direction so that entry and target can be done as soon as possible. Hence selection of stock is very important, go for volatile stock only.

2. As volatility and control by big traders like institutions in NIFTY 50 stocks are comparatively low or almost impossible, so NIFTY 50 stock generally good for day trade as they are more comfortable with indicators.

3. Selections of lot and add on lots are must be taken care properly, don’t average in loss at any cost.

Go with small lot initially (it could be as low as 50 to 100 depends on your portfolio size and your money management method).

4. Booking Profit : Starts booking profit even before your actual target hit, if trade takes more time than your calculation but do it in part of lots. For e.g. if you have 500 stocks, sell 100 at 60 % of target, sell next 100 in 70%, next 100 in 80% and rest in your 100% target achieved.

wait for the part 2....