Stock Selection For Day Trading – Intraday Trading Strategies Beginners.
In this video on Stock Selection for Day Trading, I lay out 7 Steps an Intraday trader needs to follow for stock selection for intraday trading. I have begun this video by highlighting the importance of limiting watch list to 10-15 Stocks only. This way, trader can focus better on price action and stock to make correct trading decisions.
I have then moved to the 7 steps for stock selection where I Have listed out specific rules with respect to Volume, Open Interest, Volatility, Price Trend, Demand & Supply & Relative Strength. Once I have done with rules, I have then explained case study on Stock Selection for Day trading by taking Banking sector as an example.
In Case study section, I have taken up 6 stocks within the Banking sector to show how Stock Selection for Intraday Trading is done on real time basis. I have emphasized the importance of short listing stocks for intraday before the market begins. I have also given out two additional steps as Rollover data and Gap on charts for stock selection for day trading.
In the end, I have explained importance of pre market open and how to use it along with the stocks you have selected for day trading. Link to first Four parts of Intraday trading strategy is given below. For starters, stick with Nifty & Bank Nifty Stocks.