DLF 15 min chart
I adopted this to intraday. some rules
1. must be NR7
2. must be inside bar
3. candle must be above SMA20 for taking long. must be below SMA20 for shorts
4. SMA20 must be sloping up for long, must be sloping down for short
5. allign with NSE. direction is same as NSE . for bank stocks, allign bank nifty, midcaps, IT, realesate.... their own index
6. must have daily turnover of 200 crores,
Long
Entry : NR7 bar hi + filter. my filter is 20% of NR7 range
Take Profit : NR7 hi + 2*range
SL : NR7 bar low - filter
same rules for shorts in opposite direction
on some occassions i take NR8 (even if its not inside nar) with above rules for high beta stocks like icici, dlf, jpass, axis, unitech, tatasteel, ifci ...