At StockFundoo, we have now decided to incorporate Intraday trading signals, in addition to the usual Fundamental analysis that we publish. The signals will be available here.
Trading signals on StockFundoo are RealTime Live Calls, i.e. available at the very moment they occur in the market.
Ques 2. Which stocks and index would be covered?
Ans 2. The signals would be For Futures F&O market, and they would cover Nifty Index, BankNifty Index, and 20 most popular Intraday trading stocks - Adani Enterprise, Allahabad Bank, AxisBank, BajajAuto, Bata, Bharti Airtel, Coal India, DLF, Hero Motors, Hindalco, HUL, Idea, Infosys Ltd, ITC, Reliance Capital, RIL, Sesa Goa, TataSteel, and TCS.
Ques 3. How do I use these signals?
Ans 3. The signals would be of two kinds - either Live Call to take a Long Trade or ShortSell Trade. These are trading signals, and trade is to be closed when you reach your profit target, and these are not the advice to invest in these stocks.
Ques 4. Are these Intraday Signals or Swing Signals?
Ans 4. The signals are Intraday and Short-term in nature. Meaning, one would be in market for 1-3 hours after taking these trades. However, depending on your risk apetite, you can book partial profit and carry your trade overnight if trade is showing good profits.
Ques 5. What should be my StopLoss?
Ans 5. StopLoss would be provided with each Call.
The correct trading strategy is to move the StopLoss at your Buy/Sell price once the trade moves in your favor. This way, you won't lose any money even if whipsaw occurs and trade goes against you later.
Ques 6. What should be my Profit Target?
Ans 6. Profit Target would be provided with each Call
Typically you should expect 1-2% Profit in a Intraday trade at the very least. Once trade moves in your favor, keep trailing your trade with a suitable 1% (or ATR) kind of distance and keep trailing as long as stock moves in your favor. Book profit, once you reach your target area.