This 5-step workflow helps you plan a trade in any stock, across any sector or time frame, using technical analysis.

🔹 Step 1: Spot the Trend

Ask:

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  “Is this stock in an uptrend, downtrend, or range?”

Step 1

Why: This query will tell you the trend of the stock in different time frames i.e. short/medium/long. Pick the timeframe of your choice and trade with the trend, not against it.

🔹 Step 2: Identify Key Price Levels

Now, that we know the direction in which we want to trade, we will find out the key support and resistance zones.

Ask:

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  “What are the major support and resistance zones?”

Step 2

Why: This query returns the key supports and resistances, this will form the basis of our entry, exit and target levels in the trade.

🔹 Step 3: Confirm Trend With Momentum & Volume

Ask:

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  “Is the volume and momentum confirming the trend?”

Step 3

🎯 Why: This acts as an additional check to our trend analysis by making use of the momentum and volume to validate whether the move has strength.

🔹 Step 4: Plan Entry, Stop, and Target

Ask:

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  “Give me a trading plan with entry, stoploss and target based on the above analysis”

Step 4

🎯 Why: Gives us a definite trade plan with entry, stoploss and target prices.

🔹 Step 5: Execute

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  With the trading setup ready, it’s time to move forward. Login to your demat account and place the trades. Don’t forget to apply a stop-loss to manage your risk.