stratergy explanation and tweaking weekly intraday reversal day 1

Top gainers 

1        ITC.                         13%. 
2.       Cipla.                      12%
3.       M&M.                     11.8%
4       auropharma.             9.12%
5       united spirits             8.95%
6.       PEL.                         7.3%
7.       Airtel                        7%
8        IRCTC                      7%

Top losers

1.        IndusInd bank.            -19.1
2.        Bandhan bank.            -16.7
3.        Hindustan zinc.            -14.2
4.        Axis bank.                    -13
5.         PFC.                             -11
6.         ICICI pru.                     -11
7.         ICICI bank.                  -10
8.         Bajfinance                   -9.1




These are the stock which we discussed.

Now,the rules to trade,

We are using bollinger bands for the trades with candlestick pattern (hourly chart).


 Algorithm.
  1. select weekly gainers and weekly losers.
  2. Wait for hourly candle close at 10:15 am.
  3. Sell if (upper bollinger is touched and the price is  below days low),buy(if lower bollinger touch and above days high).buy and sell below median bollinger band if and only if median is touched first and then high broken.
  4. Stop loss 0.6% and target trail till end of the day or keep fixed target like 1% or median bollinger band.





Day 1 analysis 

I am only showing the stocks that set up the stratergy and not all the stock in the list.Not all the stock will be near bollinger top or bottom.

1. Cipla

Entry reason as per stratergy 
1 bollinger touch
2 inverse hammer.
3 below days low.

This trade proved to be a winner.
Entry 634.6
Sl 638.4
Target median bollinger 624.6

2 macdowells


Entry 596.9
Sl  600.5
Target 587.7 bollinger median.



PEL

You can also use bollinger median as an indicator.
Sell below day low and below median,target lower bollinger.


IndusInd bank


Stop loss hit
Entry above bollinger median and day high ,stop at .6%.
But rsi and stoch where telling it’s not over sold but didn’t listen.Its not always good to wait for everything to align,get 2 confirmations and that’s it.Its not 1 trade that’s gone define the stratergy.
Entry 352.4
Sl 350.4


No other trades came into our zone.

Note- only for educational purpose.Trade at your own risk,






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