Intraday setup for Index derivatives trading - ORB + Pivot Points

Again not my setup. Read about it in Andrew Aziz's book . Modified it a little to suit intraday option selling. Have been working very well so far especially in BNF.

Use 5 mins chart in Nifty and BNF spot. Add Central pivot range, Pivot Points standard on to the chart (Available in Zerodha)

Basically, we are looking for days when Nifty or BNF trend (either up or down)

2/

Mark previous day high and low on the chart. Wait till 9.30 am.

Case 1: Upside Breakout. If a 5 mins candle closes above Previous day high and pivot point (R1 or R2), go long (Futures, Option buy or sell whatever suits)

Case 2: Downside Breakout. If a 5 mins candle closes below Previous day low and pivot point (S1 or S2), go short (Futures, Option buy or sell whatever suits)

Keep the SL below/above the breakout/breakdown candle and trail the SL for target

You would get these setups 7-8 times on index in a month. Success rate would be 40-50%. But the risk reward is very good ranging from 1:3 to 1:5 as well

Perspective.

@moneyworks4u_fa @shivaji_1983 @_gauravchopra Not just copper

#NIFTY Blueline is 20M EMA. One of key support in uptrend. From Sept'18 (peak) and Feb'16 (bottom), current NIFTY CAGR: 8.7% and 14.8%. Same in Oct'21, 16% and 21%. If stays at these levels for 1 year, 4.5 year CAGR will be 6.7%. Something to chew on reversion to mean

Spotted 3 beautiful #MorningStar (Bullish Reversal) patterns in weekly tf. Find them - they could be youre winners going forward

Fno Tools for Fno Traders.

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A NEW BULL MARKET:

originates when Dr #Copper bottoms out.

Equities and Copper have tended to correlate positively over the past 4 decades.

Remember: “Dr. Copper” is often seen as a proxy for the health of global industry and manufacturing

Good News: Daily charts are oversold

Not traded today nifty neutral after seeing less premium for decay. But momentum day with irctc, pel, cholafin and piind; few tsl hit few taking as btst.

All picks from our ATR scanner; how many of u tracked or

Nifty Weekly RSI is 38 Now .

As per history , it goes up to 30 Levels 13 times in last 22 years.

10 Times Nifty Recovered from there and made new TOP. 👉( Opportunity ) 😍💸💰⛈️

3 Times it dips down below 30 & Nifty corrected more than 15 % from that level. 👉( RISK ) 💔

Most members of the trading community are not proficient Twitter users.

Here are 8 effective methods to use Twitter:🧵

Collaborated with @niki_poojary

1. Use lists

The most powerful technique to completely transform your Twitter experience is using Lists since:

1) it eliminates irrelevant tweets and
2) concentrates more on what you are actually looking for.

Let me demonstrate.

Segregate people you follow into different lists.

I have a list of "Regular Trade Updates," for instance.

In order for me to study them later, this concentrates on handles that share trades.

Some traders I have on this list include-
@niki_poojary
@RijhwaniSheetal
@YMehta_

2. Mute trolls

• Some handles genuinely spew hate over their timelines.

• Completely pointless in terms of improving you.

• Muting these handles and a few more that don't provide value is the wisest course of action.

• I block and mute people without mercy.

Can also mute "specific words".

To improve his Twitter experience, @Atulsingh_asan Sir muted these words, as you can see.

RARE SIGHT for Technical Analysts:
A breakout above the Rising Wedge pattern(rather than a breakdown).

Now we could be in a TOO FAST and FURIOUS zone.

#RupeeVsDollar #Rupee #RupeeAtRecordLow #rupeefall #inr

Inside Bar (IB) is an effective trading strategy where a range is formed & we trade on a Breakout/Breakdown.

What is IB?

Textbook definition of IB:
When the current bar is trading inside the previous candle's high and low (range)

Here's a live example from the Tata Steel Chart where you can see multiple IB forming on 15 minutes chart.

I've marked 2 IBs in the circle where we can find the mother candle & the inside bar candle.

So how do we trade this?

If the overall trend is bullish, then you should be looking at high on the mother candle. When the mother candle's high is broken, you can place your SL at:
1. Low of the mother candle, or
2. Low of the Inside Bar candle.

Both the eg are in charts:

And Vice Versa for the Bearish bias.

If the overall trend is bearish, then you should be looking at low on the mother candle. When the mother candle's low is broken, you can place your SL at:
1. High of the mother candle, or
2. High of the Inside Bar candle.

I prefer keeping the high or low of the inside bar candle as my SL.

Remember there are 100s of ways to trade this, ultimately your position sizing & risk management will come into play.

Position sizing can be calculated using the SL, and risk can be managed.