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1. Identify the market direction- World Market, FIIS, Indian market and Market breadth on the basis of price and turn over.
2. Sector Contribution- Performance of sectors and pick top two performers.
3. Stock selection- Price wise and Volume wise.1. First the market direction should be evaluated by considering a set of criterias.
2. Then 2 top performing sectors should be chosen.
3. From theses sectors 4 to 5 companies should be selected base on price and based on turnover separately.
4. From these 2 lists, company that matches is selected.
5. A final check is done by analyzing it’s price movement from the morning.
6. Now the stock is traded. If the market sentiment is positive then long. If negative then short.
There are certain criteria to be checked to identify the momentum of a stock.
1.Performance of world market 2.The recent performance of FII activity. 3. Indian market nifty performance
4. Market breadth price wise:advance decline ratio
5. Market breadth turnover basis
6.Select the top or low performing companies from the top and low performing sectors
7.Accordingly enter with stop loss and target
The process to indentify the momentum stock in intraday analysis would be, in order:
- To understand Market Direction. This again is identified by a few criteria such as understanding world market sentiments, understanding the FII activity, NIFTY movement and Market breadth Price wise and Turn over wise.
- To understand the Index Contributor. This is the identification of top performing sectors on that day.
- To understand Stock Selection. After having identified the sectors we pick the right company after having analysed the turnovers and price movements.
- Then pick the stock and have an entry point, stop loss point and target point.
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