How To Shortlist Breakout Stocks in Indian Share Market Every Day in 5 Minutes? (2024)

Last year, I felt bored during the lockdown (Apr 2020), so I decided to write a small PDF document as a guideline for Breakout Trading to help some traders.

Later, some people forced me to publish it as a book. Hence I published it as a book titled "How to make money with Breakout Trading" even though it is a small book (only 66 pages).

But to my surprise, it received a much good response and occupied the #1 Best Selling position for a few months in Amazon India under the ‘Business & Strategy Management Category.’

This book is all about finding strong breakout stocks for positional trading, managing entry, stop-loss, and exit, along with money management rules.

I have shared many such breakout stocks on my Twitter handle, and many people liked the concept.

However, there was a constraint in my breakout system. It involved a trendline drawing method to identify the breakout stocks.

Many traders are working professionals, and hence they don’t get time to see all the stocks (mid-caps and small-caps) every day. So, many people reached out to me asking for a scanner to shortlist some breakout stocks.

I didn’t have a scanner as my system was purely on drawing trendlines, and I was sure it was impossible to develop a scanner for them.

But I was proved wrong.

One of my friends was impressed by the system and developed a scanner to shortlist the breakout stocks.

Initially, I didn’t have much hope for it. But after seeing its logic and results, I started using it.

It is not a final solution, but it reduces over 90% of our time identifying the breakout stocks.

How does this Breakout Scanner work?

This scanner picks the data from the NSE India website for Nifty-50 stocks, Nifty F&O stocks, large caps, mid-caps, and small caps stocks.

Then it compares today’s range with the past few day's range.

If it is bullish and the volume is high compared to the past few days, it will list the stock as a breakout stock.

The advantage of this screener is that it also lists whether the breakout candle has selling wick or not and information about the volume.

Please watch the below video to learn how it works.

We do share live intraday trades on our Telegram Channel, to know more, you can join here - Traders Group Run by Indrazith

Download Breakout Screener

Please click on the below link to download the breakout screener.

Download Breakout Screener

PS - Please don't try to edit the document directly (I have given only view access). Please download a local copy and use it in your system.

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As I explained on Twitter the other day, you can download 10 more FREE Screeners right now to shortlist the good stocks.

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FAQ

Q) I am getting a ‘Data not available’ error. How to fix this issue?

Answer – Read all the points carefully.

1. Check internet connection

2. Check the date entered to see if it is a holiday or a weekend

3. It will not run for a date more than 3 months old. So, the date has to be not more than 3 months old

4. Check if the date entered is in dd-mmm-yyyy format.

5. Apart from all these, this error might come up sometimes due to a server issue on the NSE side. In such a case, please try after some time.

Q) Can I run the screener before 6 PM?

Answer – No, please run the screener only after 6 PM.

Q) Can I use this screener to shortlist intraday stocks?

Answer – No, this screener is only helpful to shortlist positional breakout stocks.

Q) Do I need to pay for the screener?

Answer – No, it is for FREE for all the traders.

Q) Can I use the screener for any type of breakouts?

Answer – This screener is designed to shortlist the stocks under the breakout concept mentioned in the ‘How to Make Money with Breakout Trading’

Q) Can I run the screener only for today's list?

Answer - One can run it for any date from the past 30 days. The screener will give the results for breakouts on that particular day. But usually, this may not be so helpful as the breakout concept needs the stocks to be identified which had a breakout in the present day.

Q) Can I directly take trade in the stocks that are shortlisted by the screener?

Answer - As mentioned earlier, it is not a final solution, but it reduces over 90% of our time. The stocks that the screener shortlists have to be still manually checked by drawing trendline and validating the breakout.

Q) I have an issue while using the screener; whom to approach?

Answer – Please drop an email to indrazith@profiletraders.in along with the error screenshots.

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