How to use
This stock screener helps Intraday trader to take positions on Nifty future, BankNifty future and Nifty50 stocks. It identifies stocks according to market trend and gives intraday calls with entry and stoploss.
Trader should wait for the market to stabilize for the first half-an hour of trade (till 9.45AM), now check for the Market breadth(it indicates how many stocks are trading in positive) and check current trend (it indicates how many stocks are moving up tick by tick).
For example if both are positive then go for stocks that gives buy signals, select the stocks that shows low risk (green color in risk column). For fixing targets use intraday levels(move mouse pointer on stock name) and trade accordingly to market trend.
Trailing stoploss: Once taken a position keep strict stoploss, to trail stoploss in case of long(buy) position compare both "stoploss" column and "sell below" column, if sell below value is higher than stoploss value then take sell below value as stoploss. The reverse should be followed for Short (sell) position.
For better results:
- check the trend of Nifty in Nifty index page and select the stock in line with Nifty’s trend.
- If the entry is taken near to ATP (Avg trading price) risk would be minimum. For Example: If Entry level for a Buy call is 503 then compare the ATP if it is at 500 then buy near to 500, so that stoploss is minimum. The same should be reverse for a Sell entry.
- Select the stock that are trading around +0.5%(from previous close) for Buy calls and -0.5% for Sell calls.
Strength% : This column indicates how much a stock is volatile for the day, 100 is taken as average, if a stock reaches 100% in the morning itself it can be understood that particular stock would be volatile.
Signals: This column is based on various parameters such as open=high or low, stocks own trend, Nifty’s trend and tick by tick movement of stock (upside or downside).
VStr%: This column VStr% indicates how much volume has been traded when compared to its recent average. This helps traders to identify if the stock is moving based on higher volumes or it’s following index.