Learning to catch High Probability Breakouts

[amitrandive]

todays list

Testing purpose. not suggesting any buy or sell.
plz observe the todays open as trigger for day trade. give me feedback. in last few days observations.. one thing I noticed, the stocks with RSI(2) in ob/os(70/30) zone gives bigger moves. direction of trade is not defined until it moves abv or below open.give me your feed back if possible.

Ticker Date/Time close range High range Low rsi2 rsi2llv4
AJANTPHARM 23-09-2015 1432.55 1476.00 1390.05 44.0091 19.6634
AMARAJABAT 23-09-2015 977.90 1035.55 965.00 25.1312 25.1312
APOLLOHOSP 23-09-2015 1369.60 1404.95 1347.00 54.0325 54.0325
BANKBARODA 23-09-2015 188.25 196.25 182.45 51.6986 36.1836
DIVISLAB 23-09-2015 1114.70 1129.50 1065.00 67.9517 34.1389
GAIL 23-09-2015 287.30 295.25 283.30 23.6006 23.6006
GLENMARK 23-09-2015 1009.65 1045.30 989.90 17.8685 17.8685
HAVELLS 23-09-2015 251.15 257.80 246.40 36.1655 5.0989
HDIL 23-09-2015 64.00 66.35 60.75 62.8630 33.8773
HEROMOTOCO 23-09-2015 2400.95 2449.85 2375.15 54.0373 36.3567
HINDZINC 23-09-2015 135.40 138.05 129.20 62.5668 33.5780
INFY 23-09-2015 1116.25 1135.95 1092.50 99.4273 92.4984
IRB 23-09-2015 226.05 236.45 215.30 56.4591 42.5152
JUBLFOOD 23-09-2015 1582.80 1652.00 1532.00 48.4377 8.4039
KOTAKBANK 23-09-2015 658.65 670.00 631.00 63.7058 27.5233
M&M 23-09-2015 1208.25 1221.50 1169.75 86.5906 54.9366
NHPC 23-09-2015 16.45 16.90 16.20 26.4325 26.4325
ONGC 23-09-2015 236.55 241.80 229.75 58.4115 34.1462
PETRONET 23-09-2015 177.20 182.95 172.55 53.6340 36.5273
RELCAPITAL 23-09-2015 347.15 351.95 328.00 65.6100 25.8311
SKSMICRO 23-09-2015 397.00 407.20 360.60 44.2932 2.7944
SOUTHBANK 23-09-2015 21.10 21.60 20.45 68.1072 52.1195
SRF 23-09-2015 1130.10 1198.00 1087.90 41.8780 25.8121
SRTRANSFIN 23-09-2015 881.20 928.90 865.00 23.7741 23.7741
SUNPHARMA 23-09-2015 896.75 920.80 888.30 45.8342 45.8342
TATACOMM 23-09-2015 400.10 412.00 393.00 35.1890 35.1890
TATAGLOBAL 23-09-2015 125.00 127.00 122.25 60.7443 27.9539
TATAPOWER 23-09-2015 63.25 65.70 61.70 47.4635 32.4694
VOLTAS 23-09-2015 258.70 263.60 243.00 62.5937 17.2613

I am sure I am heading towards the desired direction. I was using this method before also but randomly. trying to define the direction of trade and "Exact rule for s/l and entry" for intraday only trades. I guess just todays open is not enough. the trades are mainly rewarding. lets hope for the best output.

Ideally we should have a list of companies based on levels and not some indicators.
Obviously in such a long list there will be 50% who perform and 50% who do not.
How to analyse a strategy on the basis of that performance?

 

[nitingosavi]

Ideally we should have a list of companies based on levels and not some indicators.
Obviously in such a long list there will be 50% who perform and 50% who do not.
How to analyse a strategy on the basis of that performance?

Amit sir,

I do trade only in nifty 50 and ADAG stocks. rest many of them even I don't know whats their price. scanned all FnO sector stocks every day.

RSI(2) is just to find which stock may perform..

as this system is based on Open I cant post that level. but I have noticed just todays open is not enough though its working well with reverse trade.
the short listed stocks are Not exactly but someway in 4 days contraction period. the motto is to find which stocks may move BIG, and what direction, let them reverse the direction when we had enough

 

[amitrandive]

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AMIT'JI, is this chart qualify for "bull flag"?
n ur analysis on trident

Hi

I do not analyse stocks which are below Rs 50.TA is difficult on such stocks due to lesser volumes and lesser liquidity.

Such stocks are easily manipulated by operators.

Please invest your patience,energy and money in some other good companies.

 

[amitrandive]

Amit sir,

I do trade only in nifty 50 and ADAG stocks. rest many of them even I don't know whats their price. scanned all FnO sector stocks every day.

RSI(2) is just to find which stock may perform..

as this system is based on Open I cant post that level. but I have noticed just todays open is not enough though its working well with reverse trade.
the short listed stocks are Not exactly but someway in 4 days contraction period. the motto is to find which stocks may move BIG, and what direction, let them reverse the direction when we had enough

NitinJi

I keep telling this to everyone.Please do not rely heavily on Indicators.
Indicators are easily fooled by Algos, gap ups and gap downs.

Today's markets are fairly complex and dynamic,hence most indicators keep giving obscure results.

TA should be fairly simple based on price action.

Indicators like RSI,etc can remain highly overbought or oversold whatever parameters you use.

Price Action is GOD

Use Price Action along with levels for trading.

 

[amitrandive]

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AMIT'JI, is this chart qualify for "bull flag"?
n ur analysis on trident

Hi

I do not analyse stocks which are below Rs 50.TA is difficult on such stocks due to lesser volumes and lesser liquidity.

Such stocks are easily manipulated by operators.

Please invest your patience,energy and money in some other good companies.

Attaching a monthly chart.See the picture and performance.
The picture says its all.IN 11 years of listing on the exchange , it has gone nowhere.

Monthly Chart of Trident.

 

[r.amvarman]

I don't know where to post the below question in traderji, could you pls help me out at which category i should post the below question?

"Does any one have backtested result for PSAR (0. 02) crossover on BNF 1 hr? for atleast one year" please share your view on results"

 

[sumantra]

Hi

I do not analyse stocks which are below Rs 50.TA is difficult on such stocks due to lesser volumes and lesser liquidity.

Such stocks are easily manipulated by operators.

Please invest your patience,energy and money in some other good companies.

Absolutely correct strategy.:thumb:

 

[amitrandive]

I don't know where to post the below question in traderji, could you pls help me out at which category i should post the below question?

"Does any one have backtested result for PSAR (0. 02) crossover on BNF 1 hr? for atleast one year" please share your view on results"

Please post in http://www.traderji.com/general-trading-investing-chat/
or http://www.traderji.com/technical-analysis/

 

[anilnegi]

Attaching a monthly chart.See the picture and performance.
The picture says its all.IN 11 years of listing on the exchange , it has gone nowhere.

Monthly Chart of Trident.

AMIT JI

in your chart you mark 2 lines forming a box like in every level of support/resistane, is it done purposely or u are indicating zone rather than a single level

thanks

 

[amitrandive]

AMIT JI

in your chart you mark 2 lines forming a box like in every level of support/resistane, is it done purposely or u are indicating zone rather than a single level

thanks

Yes Sir

I am drawing a box of support/resistance for higher time frame like Weekly and Monthly.
For Daily I draw lines.