For intraday trading with the given levels, follow these steps.
1. One Lakh Margin is assumed.
2. Minimum trade perday 2 lots of Nifty/2lots Banknifty.
Both Bse and Nse spot levels are given. Always enter first lot when one of the Bse or Nse spot is triggered and another at the other index level. Exit one lot when one index target or SL is reached and another when the other index reaches the target or SL.
3. If the target is more than 25 points in Nifty, book the first lot when 20 points profit is reached and another at either of index targets.
4. If the first trade results in loss due to SAR/SL hit, do not immediately enter fresh trade. Wait for the index to pull back. Around 5 points pullback enter one lot and more than halfway pullback[near to the stoploss] enter another lot, sothat SL risk is minimised and target is maximised.
5. For Banknifty, for the Firsttrade, both lots can be entered at the same time. If the target is around 50 points, exit the first lot when you have profit equal to stoploss risk, so that you continue with the other lot for the target.[you have already earned it stoploss points through the previous one.]
6. If the target is more than 50 points and the target is still not reached, once above 50 points, keep 50 points as stoploss and book profit at 50 points to reenter at lower levels again for the target.
7. 'Buyabove/SL' 5455 means Buy above 5455 with SL at SAR/Sellbelow point. Similarly, 'Sellbelow/SL' 5406 means Sell below 5406 with SL at SAR/Buyabove point.
8. 'SAR/Buy above 5419' means, the point has to come below 5419 and then move above 5419, with SL of 'Sell Below/SL' . Similarly 'SAR/Sell below 5442' means, the point has to move above 5442 and come below 5442, with SL of 'Buy above/SL'.
9. When you enter a position based on Buy Above/SL or Sell Below/SL , if the spot crosses the target point, you can run the lot with atleast target as the stoploss or trail your stoploss. BUT, when you enter a position based on SAR/Sell Below or SAR/Buy Above, keep atleast the minimum point in the target range as stoploss and book profits in the target range. First, book profits for the position you already hold so that the mind will be clear and then look at the market situation to take further fresh position, even if you are in profits.
10. Always enter a position at the given point or between the given point and stoploss point[once a given point is triggered for atleast one min.] so that risk[stoploss] is minimised and target[return] is maximised. If you enter a trade after the given points, remember, you always face increasing risk for lesser returns.
