Thank you @Spaceship for having me tagged:) Tintin sent me a message saying that he had missed tagging me and didn’t notice, but thank you.
Some valid exit points according to me:
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If the market is trending, either upwards or downwards, then one can hold the position post 3pm and exit anytime after that. Maybe even partially exit till then and allow the last bit of quantity to run till the end.
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If there is a decent amount of upmove/downmove during the trading day but the stock could retrace back from those levels after that, then one can exit when they see reversal patterns. Maybe even take a counter position after exiting to profit both ways. But you need to be watchful in this scenario.
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If it’s a choppy/range-bound market, then a % target works well. For me, 0.6% to 1.2% is a probable target point.
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One could also keep a monetary target for the day to avoid all other factors. Say your target is Rs.2000 with a valid trade qty, then you can also exit when this target is reached. And stop trading for the day unless you see another clear trade opportunity. If your target is not reaching easily, then you will have to rethink about when you want to exit the position.