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How To Make Your Own Day Trading Scanner
How To Make Your Own Day Trading Scanner
net/lesson/how-to-make-own-day-trading-scanner/
This means what the price did on that day. It shows open, close, high, low, open interest, option chain data, etc.
After the market closed. NSEINDIA published this report in bhavcopy file
What to download?
Download the capital market bhavcopy file and the Derivatives market bhavcopy file. The link is given below
https://www1.nseindia.com/products/content/all_daily_reports.htm
Use of scanner
1. Can we predict the stock trend by analyzing the end of the data?
2. Can we find stock for the next day?
Buy/sell column
So, for long stock, it should have high volume, high OI, and PCR>1. So, we make our buy column by giving the
above condition
If ultra-high volume, we find. Then something unusual happened. By checking the chart, we can determine
whether the stock for tradable or not. Whether it breaks out from any support or resistance level with high
volume. then we must keep it on our watch list
Change in price
Here, we will find the top gainer or top loser stock. Check the chart to see why the top gainer is a top loser.
For trading purposes, stocks with lower volumes and lower open interest should be avoided.
Why?
The analogy of volume and open interest in the market is like that of fuel to a fire. If the fuels are removed from
a fire, the fire will go out. If fuel (volume and open interest) is removed from a price trend, the trend will change
or move will stop. When open interest and volume decline, fuel is removed, and the prevailing price trend is
running on borrowed time. For a healthy, strong price trend (either up or down) to continue, open interest and
In the video, I explain live how to select stock for the next day based on day data analysis. Here is the list of
stock that shows buy condition
Even our scanner shows buy condition. After the market opens, if our trading setup doesn’t tell, then I am happy
to avoid trading.
Tips: If the index and sector are bullish, trade with strong stock on the bullish side.
In the next article, I will discuss How to Select Stocks for Intraday Trading with live examples. In this article, I
try to explain how to make your own day trading scanner, and I hope you enjoy this article. Please join
my Telegram Channel, YouTube Channel, and Facebook Group to learn more and clear your
doubts.
Pranaya Rout has published more than 3,000 articles in his 11-year career. Pranaya Rout
has very good experience with Microsoft Technologies, Including C#, VB, ASP.NET MVC,
ASP.NET Web API, EF, EF Core, ADO.NET, LINQ, SQL Server, MYSQL, Oracle, ASP.NET Core,
Cloud Computing, Microservices, Design Patterns and still learning new technologies.