For intraday trading, it becomes increasingly challenging to participate in the stock market throughout the day. Mr. Vivek Bajaj will teach the Open Market Strategy, which only requires a trader to be active for two to three hours in the morning to get around this problem. He will begin by outlining the three trading sessions: morning, afternoon, and evening. He will cover how to generate trades during the morning session in this video so that viewers can move on to their other tasks. There are two methods that traders can employ to find stocks with solid intraday momentum. He will outline both strategies and illustrate how to use them with various stocks. For these intraday trades, He will also guide how to add a stop loss and take profit.

What You Will Learn:

Vivek emphasizes the importance of learning from the market itself, stating that while he provided basic knowledge, true learning comes from actively participating in the market.

He has discussed the concept of intraday trading emphasizing the three distinct periods during a trading day: morning, afternoon, and evening. Morning trading is important, and Vivek compares it to a war situation when people are most desperate to buy or sell in the early hours of the day. The objective is to identify stocks involved in this morning's battle and look for possible trading opportunities.

He suggests avoiding afternoon trading due to the lesser chances of profiting during that time. He advises concentrating on morning and evening trading instead and recommends traders select a certain trading block depending on their personal preferences and commitments.

In order to help with intraday trade identification, he presents the idea of End-of-Day (EOD) analysis with StockEdge. He talks about the several types of scans that are available in StockEdge, such as candlestick, technical, fundamental, volume and delivery, price, futures, and options scans. Every scan helps traders identify and filter stocks according to specific criteria.

Vivek shows how to use StockEdge to identify intraday stocks. He emphasizes the significance of delivery quantity as an indicator of operator activity and suggests the idea of combining several scans to improve stock selection. The idea is to combine criteria in a way that makes it more likely to find stocks that might move within a day.

He then talks about a method he uses to keep track of the top sellers and purchasers at the market opening. He shows how to use this data to find potential trades, highlighting the significance of marking the first 15 minutes' high and low for selected stocks. This method is regarded as a useful and successful intraday trading strategy.

In addition, he discusses the significance of time management in intraday trading and suggests that traders make their trades in the first two to three hours of the day. He strongly emphasizes automating the trading process by setting predetermined take-profit and stop-loss settings, which allows traders to concentrate on other tasks after placing their orders.

Frequently Asked Questions (FAQs)

Q1. What are the key characteristics that define good intraday momentum stocks?

Good intraday momentum stocks have significant liquidity, volatility and frequently involve current news events or technical patterns. You can focus on sectors exhibiting overall strength and look for equities with significant delivery quantities, which indicate operator activity. Potential possibilities are identified with the use of historical patterns and indicators such as volume and RSI, as well as pre-market and opening price activity. Earnings reports can also boost intraday momentum. Watch this video to understand the tools that can be used to identify stocks.

Q2. What is the method for tracking top sellers and purchasers at the market opening?

He introduces a method where traders track the top sellers and buyers at the market opening. This data is used to identify potential trades, and marking the first 15 minutes high and low for selected stocks is emphasized as a useful intraday trading strategy.

Q3. What can you expect to learn from the video?

You will learn practical strategies for intraday trading, including the Open Market Strategy, methods for identifying intraday stocks using StockEdge, and the importance of time management and automation in intraday trades.