Sensex Round-Number Breakout with Break-Even Stops

Summary

This intraday Sensex strategy sets reference levels at the nearest 500-point increments using the opening price at 9:45. It permits new entries during the stated 9:45 to 15:15 window. The script uses a close crossing below the upper level as its long condition and a close crossing below the lower level as its short condition, despite the accompanying overview describing the long setup as a possible liquidity-grab reversal. That mismatch makes the intended logic worth checking before use.

Initial stops are placed 100 points from the entry close. If price moves 200 points favorably, the stop shifts to the average entry price; a target sits one 500-point increment beyond the relevant level. Positions are closed near the end of the trading day. These are specified rules, not evidence of performance: the document provides no backtest results, and its Sensex-specific thresholds, session assumptions, and intraday execution behavior need independent evaluation.

Key ideas

• The strategy anchors upper and lower reference levels to 500-point increments around the 9:45 opening price.
• It allows entries during a defined intraday window and forces a close near the end of the day.
• The listed long and short triggers both use a downward cross, so the directional logic should be reviewed.
• An initial 100-point stop moves to break-even after a favorable 200-point move.
• The document gives no performance results to support the rules.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.