Intraday Stock Selection

 

1 Setup Relative volume ( Trading view indicator )

Today volume  compared to the average volume at the same time . Relative volume should be more then 2

2. ATR ( Tradingview indicator )

ATR means average true range . ATR Should be more then 4% . It based on share price percentage.

3. Liquidity

4. Clean chart

5. Near key level

6. Market sector alignment

7. Clear Entry with SL and Target

Intraday Stock Selection Strategy for Next Day (with GTT)

The core idea is: pre‑select a small, liquid watchlist EOD based on momentum + structure, then place GTT orders at logical trigger levels so you capture the move without staring at the screen.

Below is a practical, India‑focused framework you can use tomorrow.

1) What kind of stocks to consider for intraday GTT?

Focus on F&O / NIFTY 50 / highly liquid stocks only:

• Average daily volume: ideally > 5–10 lakh shares (or > ₹50–100 cr turnover).

• Price range: ₹100–₹2,000 (avoid very low priced, illiquid stocks).

• Daily range: 2–5% average move (enough volatility, not too wild).

• Avoid stocks with major events next day (results, big corporate announcements) unless you specifically trade news.

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2) End‑of‑Day (EOD) stock selection process

Do this after market close for tomorrow’s trades.

Step 1: Filter by momentum & volume

Use your scanner / charting tool to find stocks that show:

• Top gainers / losers in F&O or NIFTY 50.

• Volume > 1.5–2× 20‑day average today.

• Close near day’s high (for longs) or near day’s low (for shorts).

This gives you stocks where smart money is likely active.

Step 2: Check trend & structure (price action)

On daily chart:

• For long bias:

  • Price above 20 EMA / 50 EMA.

  • Higher highs & higher lows.

  • Today’s candle: strong bullish candle, ideally closing near high.

• For short bias:

  • Price below 20 EMA / 50 EMA.

  • Lower highs & lower lows.

  • Today’s candle: strong bearish candle, closing near low.

Mark key levels:

• Previous day high / low.

• Last 3–5 days’ high / low.

• Strong support / resistance zones (consolidation breaks, trendline breaks).

Step 3: Sector & index alignment

Check:

• NIFTY / BANKNIFTY trend: bullish, bearish, or range‑bound?

• Which sector is leading today (banking, IT, auto, pharma, etc.)?

• Prefer stocks in the direction of sector + index.

  • If NIFTY is bullish and IT is strong → look for longs in strong IT stocks.

  • If BANKNIFTY is weak → look for shorts in weak bank stocks.

This improves probability that the stock moves in your expected direction tomorrow.

Step 4: Shortlist 4–6 stocks max

From the above filters, make two lists:

• Long candidates: 2–3 stocks with bullish structure + strong close.

• Short candidates: 2–3 stocks with bearish structure + weak close.

Don’t overdiversify; intraday is about focus.

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3) Turning this into GTT entries for tomorrow

GTT (Good Till Triggered) lets you set trigger price + order price that stays active until hit or cancelled. Use it to automate entries at your planned levels.

A) Define your trade plan for each stock

For each shortlisted stock, decide:

1. Direction: Buy or Sell (intraday).

2. Entry logic:

   • Breakout above today’s high / last 3‑day high for longs.

   • Breakdown below today’s low / last 3‑day low for shorts.
     OR

   • Pullback to a support level (for longs) / resistance (for shorts).

3. Stop‑loss:

   • For longs: below recent swing low / support.

   • For shorts: above recent swing high / resistance.

4. Target:

   • At least 1:2 risk–reward (e.g., SL = ₹5, target = ₹10+).

B) Set GTT parameters

Example for a long trade:

• Current close: ₹1,000

• You want to buy if price breaks above ₹1,015 (today’s high).

• Your entry: ₹1,015–1,017 (you can set order price slightly above trigger to ensure fill).

• Your SL: ₹1,005 (below support).

• Your target: ₹1,030+.

GTT setup (buy):

• Trigger price: ₹1,015

• Order price: ₹1,016 (or market, if your broker supports trigger‑to‑market).

• Quantity: as per your risk.

• Validity: 1 day or as per broker (many GTTs are “good till triggered” for days/weeks).

For a short trade:

• Trigger: below a key support / today’s low.

• Order price: slightly below trigger.

• SL above recent swing high.

• Target at next support.

You can also use GTT for stop‑loss and target if your broker allows multi‑leg GTT (entry + SL + target).

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4) Simple checklist before placing GTT for tomorrow

Before finalizing each GTT order, run this quick checklist:

• Stock is highly liquid (F&O / NIFTY 50, good volume).

• Clear daily trend (above/below EMAs, HH/HL or LH/LL).

• Today’s candle shows momentum in your direction (strong close near high/low).

• Trade is aligned with sector + index bias.

• Key support/resistance levels are marked and logical.

• Risk–reward is at least 1:2 with defined SL & target.

• No major event risk (results, big announcements) unless you want that.

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5) Example workflow (practical)

Tonight:

1. Open F&O stock list.

2. Scan for:

   • Top 10 gainers & losers.

   • Volume > 1.5× average.

3. Pick 3–4 stocks with:

   • Strong bullish candles closing near high → long candidates.

   • Strong bearish candles closing near low → short candidates.

4. Mark levels:

   • For longs: today’s high, last 3‑day high, nearby support.

   • For shorts: today’s low, last 3‑day low, nearby resistance.

5. Decide bias based on NIFTY / sector.

6. Place GTT buy above breakout levels for longs, GTT sell below breakdown levels for shorts.

7. Set SL & target (via separate GTT / normal order next day).

Tomorrow:

• Let GTT trigger if the market moves as expected.

• Once in trade, manage using your pre‑planned SL and target.

• Square off by end of day; don’t carry intraday GTT trades overnight unless you intend to.

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