💥💥 Banknifty Intraday Scalping Strategy 💥💥

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Here's A Small 🧵

What Is Scalping?
Is it for everyone?

👉Scalping is a trading strategy in which traders profit off small price changes for a stock or index.

👉Scalping Relies solely on price action or Technical analysis.

👉 Only Intraday immediate data is of concern.
👉 Scalping requires a trading personality which incorporates the ability to be highly disciplined,

Ability to take quick decisions without hesitation and not questioning their decisions once they have been made.

👉So first determine whether this style is suitable for you.
Tool 1: Intraday VWAP

Rule:
We will look for buy trades
When price is above VWAP

And look for only sell trades
When price is below VWAP

If you follow this rule,
Your 50-60% wrong trades will go away out of the window.
Tool 2: RSI

RSI shows patterns in momentum which may or may not be seen in price.

In this method
overbought,
oversold or divergence on RSI
Not needed.

Rule 2

RSI (11) should show the same congestion pattern shown by the price
Buy Setup: Looking for congestions

Price generally congests before a fast move.

Try to identify this congestion on price,

See whether the same congestion is shown by RSI

And trade the breakout.
Try to find a triangle formation.
Think of a spring getting coiled.

This pattern takes at least 10 bars to complete (1 min time frame),
The more the better.

None of the bars should close below the VWAP.

A low tag is okay.
Ko
Buy Setup
Whenever the same triangle pattern happens at both Banknifty Future price and RSI.

Wait for an upside breakout.
Buy at breakout

Previous swing low will be your Stop loss.
Red dot line in the picture.
Sell setup

Find out the same triangle pattern in both Banknifty Future Price and RSI.

Wait for a downside breakout

Sell at a breakout.

Previous swing low will be your Stop loss
Master One strategy
Master one instruments
For day trading/ Scalping

The essence of Scalping is quick in out,
Never get stuck with a trade in hope.

Have a stop loss in the system
There is nothing called a mental stop loss.

Concentrate on the indices and master only one.

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IMPORTANCE, ADVANTAGES AND CHARACTERISTICS OF BHAGWAT PURAN

It was Ved Vyas who edited the eighteen thousand shlokas of Bhagwat. This book destroys all your sins. It has twelve parts which are like kalpvraksh.

In the first skandh, the importance of Vedvyas


and characters of Pandavas are described by the dialogues between Suutji and Shaunakji. Then there is the story of Parikshit.
Next there is a Brahm Narad dialogue describing the avtaar of Bhagwan. Then the characteristics of Puraan are mentioned.

It also discusses the evolution of universe.(
https://t.co/2aK1AZSC79 )

Next is the portrayal of Vidur and his dialogue with Maitreyji. Then there is a mention of Creation of universe by Brahma and the preachings of Sankhya by Kapil Muni.


In the next section we find the portrayal of Sati, Dhruv, Pruthu, and the story of ancient King, Bahirshi.
In the next section we find the character of King Priyavrat and his sons, different types of loks in this universe, and description of Narak. ( https://t.co/gmDTkLktKS )


In the sixth part we find the portrayal of Ajaamil ( https://t.co/LdVSSNspa2 ), Daksh and the birth of Marudgans( https://t.co/tecNidVckj )

In the seventh section we find the story of Prahlad and the description of Varnashram dharma. This section is based on karma vaasna.
MDZS is laden with buddhist references. As a South Asian person, and history buff, it is so interesting to see how Buddhism, which originated from India, migrated, flourished & changed in the context of China. Here's some research (🙏🏼 @starkjeon for CN insight + citations)

1. LWJ’s sword Bichen ‘is likely an abbreviation for the term 躲避红尘 (duǒ bì hóng chén), which can be translated as such: 躲避: shunning or hiding away from 红尘 (worldly affairs; which is a buddhist teaching.) (
https://t.co/zF65W3roJe) (abbrev. TWX)

2. Sandu (三 毒), Jiang Cheng’s sword, refers to the three poisons (triviṣa) in Buddhism; desire (kāma-taṇhā), delusion (bhava-taṇhā) and hatred (vibhava-taṇhā).

These 3 poisons represent the roots of craving (tanha) and are the cause of Dukkha (suffering, pain) and thus result in rebirth.

Interesting that MXTX used this name for one of the characters who suffers, arguably, the worst of these three emotions.

3. The Qian kun purse “乾坤袋 (qián kūn dài) – can be called “Heaven and Earth” Pouch. In Buddhism, Maitreya (मैत्रेय) owns this to store items. It was believed that there was a mythical space inside the bag that could absorb the world.” (TWX)