We may have all heard people saying that maximum money is made in the first few minutes or the last few minutes of trade. But how to identify such opportunities and scan for this kind of high price/volume/oi action one needs the right tools and the keen insight to read such info.
In www.myfno.com we have created one such critical tool that can help you in just this.
In our app, you can actually see the %CHANGE in price/volume/oi between any custom time frame / interval.
So if in the last 15 minutes of trading session, if we set this %chg parameter to say 5 minutes from the interval menu as shown in the pic, then we can precisely see any action happening in just that last X minutes chosen, so any sharp price/volume/oi spikes are visible & can be used as a base to identify the high %chg stocks.
Essentially we can identify where positions are being taken at the end of the day by the ‘smart traders’ for selling the next day ( BTST – buy today , sell tomorrow )
Now these 5/10 min %chg we can see in many screens like
- Markets
- HeatMap
- AdvanceDecline
- Futures
I personally like to see the AdvanceDecline screen in myfno.com because besides the %chg, it also groups the stocks sectorwise, so i can see if the whole sector is also where the ‘smart money’ is moving in.
How to identify and what to look out for i’ve explained in this selfie – self explanatory one-page pic 🙂
some more candidates we identified with this funda so you could get a better idea of how to use this with more examples –>
We have created a readymade template for you to see price/oi/vol in advancedecline in a 10 min timeframe. Members can Just click on this link to see it live in action –>
MyFnO Mantras 