How to shortlist stocks for EOD swing trading?

General
1

Hi,

This question is for traders with experience…I want to know how to shortlist stocks for End of the day swing trading. My trading approach will be price action within S&R framework.

  1. Should I create a basket of NIFTY Index, BANKNIFTY Index, and 25-30 stocks based on “most active” data of NSE and look for price action patterns in these stocks after market is closed each day ?? But, I m afraid of not finding frequent opportunities with such limited list of stocks. Any experienced trader who uses this approach can explain if my concern is correct or not.

  2. Is there any other way of short listing stocks every day after market closes?? Like using some screener to find out volume shockers , price shockers, etc and then apply TA on those.

I would like to know from the experience of traders which approach of selecting stock for End of day trading is best.

2

Have listed out few things that will help you get started, suggest you check section 19.4 onwards -

3

I’ve read this already and it makes total sense, but my only concern is less number of overall trades and it might be the case that some other stock which is not in nifty 50 but is breaking out of a range or something. I just needed to know if EOD swing traders use some other approach or the same as mentioned varsity.

4

Its not the number of trades that matter, its the quality of the trade :slight_smile:

5

Thanks a lot… I will take your advice that frequent trades should not matter as much as the quality of the trades and start my “1 unit” forward testing approach to gain confidence in my strategy.