Profile TradersHow To Shortlist Breakout Stocks in India Every Day in 5 Minutes? (2022 Share Market)
Updated: Jan 28
Last year I felt bored during the lockdown (Apr 2020), and hence I decided to write a small pdf document as a guideline document 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 with the title "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 any scanner as my system was purely on drawing trendlines, and I was sure that it is impossible to develop a scanner for the trendlines.
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 concerning the past few days 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 know how it works.
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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FAQ
Q) I am getting a ‘Data not available’ error. How to fix this issue?
Answer – Read all the points carefully.
Check internet connection
Check the date entered to see if it is a holiday or a weekend
It will not run for a date more than 3 months old. So, the date has to be not more than 3 months old
Check if the date entered is in dd-mmm-yyyy format.
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 which are shortlisted by the screener 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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