Hit And Run

-NUMBER7
Introduction
 Price action is the key to day trading. As a trader we should focus on two
things during intraday trading.
 1) BreakOut
 2) FakeOut ( Rejections)
 Breakout and FakeOut occurs at a key levels, Key levels could be weekly
supply/demand zones, Fibonacci levels, Monthly high or lows or Pivot
Points.
 Intraday/Swing highs/lows happens with a climax volumes. Climax volumes
are those, where major retail stops gets triggered by the smart money.
 In the next slide will explain the concept “Hit and Run” . Price rejects or
gives acceptance near a particular key level and gives a confidence to
trade in the direction of the price action momentum. It is applicable to
intraday and swing trading.
 Hit And Run

 Name itself suggests it is Hit and Run. To trade this setup you need, Key levels
and price action along with volumes.
 Intraday time frame, 10mins chart.
 Key levels, you need to use two Pivot points, Standard Pivots and Fibonacci
Pivots. If you are a Zerodha kite user, you have both in the study tool.
 Don’t trade after 3pm IST based on this concept.
 Key levels generated based on the pivot points.
 Next you need volumes chart, and 10mins candle stick chart.
 In the next slide, will share the formula for the pivot points.
 How To trade?
 You need to mark out the double Or Multiple pivot lines on the charts. Wait for
the price to cross (BreakOut) or fail (FakeOut). Then take the trade based on
the direction of the price momentum. If price rejects then take the opposite
side, if price breaks Out, then take the position in the direction of the price.
 Make sure you will check volumes near those levels, then only consider the
trade, else ignore. Volumes, should be higher than the previous 3-4 bar’s. For
example: Current bar’s volume is 30k, then previous bars should have less than
20k atleast.
 During rejection wait for the price to trade above the pivot line, when it close
above the pivot then take the trade, and keep the stop below the recent
swing low + filter ( add 1-2 Rs). You can wait for two bar’s close.
 During BreakOut wait, check the volumes of the bar, and the close should be
above the pivots. Then take the trade, and stop will be the low of the breakout
bar. You can wait for one more bar to close above the pivots.
 Target will be twice the stop from your entry or nearest single pivot.
BankNifty Future
10mins chart
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