Its safe to be with Large cap to trade intraday.
By looking at at the overall market mood from SGXNIFTY and Sensex, Nifty open in the morning, Reliance chart very good for intraday trade on Apr/07/2020- Compared to last 3 days VWAP moved up, Price moved up n above VWAP, n remained up consistently. Can buy above the second candle or in 3rd candle with stoploss below it. Or after waiting for one hour(Initial balance range) to check price touches VWAP how many times to get sense of strength of price.
More number of times price touches VWAP, we need to check the VWAP direction to gauge the up strength or down strength.
Less number of times price touches VWAP shows the price strength in one direction.
SBILIFE chart also looked good for intrady on VWAP basis, as the VWAP and price opened and moved above the last 3-4 days VWAP charts,and price maintained above VWAP with good volume.
Take trade with the same entry price must be above VWAP after initial one hour and stoploss few points below VWAP.
AXISBANK also showed good positive strength for intraday, real strength came after the pull back
which came back to the VWAP.
DRREDDY showed good positive move as the pharma sector had good positive news
Again the same price and VWAP above last 3-4 days price and VWAP which itself is a positive signal and supported by good volume compared to last few days. And price continuously above VWAP after one hour.
Few more charts with VWAP to refer.
All for my own references
By looking at at the overall market mood from SGXNIFTY and Sensex, Nifty open in the morning, Reliance chart very good for intraday trade on Apr/07/2020- Compared to last 3 days VWAP moved up, Price moved up n above VWAP, n remained up consistently. Can buy above the second candle or in 3rd candle with stoploss below it. Or after waiting for one hour(Initial balance range) to check price touches VWAP how many times to get sense of strength of price.
More number of times price touches VWAP, we need to check the VWAP direction to gauge the up strength or down strength.
Less number of times price touches VWAP shows the price strength in one direction.
Take trade with the same entry price must be above VWAP after initial one hour and stoploss few points below VWAP.
AXISBANK also showed good positive strength for intraday, real strength came after the pull back
which came back to the VWAP.
DRREDDY showed good positive move as the pharma sector had good positive news
Again the same price and VWAP above last 3-4 days price and VWAP which itself is a positive signal and supported by good volume compared to last few days. And price continuously above VWAP after one hour.
Few more charts with VWAP to refer.
All for my own references
Comments
Post a Comment