Nifty and Bank Nifty trading levels for 14th Jan.,2021



My Trading strategy for  Nifty and Bank Nifty Futures trading on 14th, Jan., 2021




Rules:
Chart :  candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )

NIFTY

Draw Two horizontal lines on the 5m candle stick chart, at 14655 and 14545.

Buy if the candle closes above 14655 and indicator is above 60,   keep stop loss lowest low of the previous 4 candles, book profit 20 points.

Sell if the candle closes below 14545 and indicator is below 30,   keep stop loss highest high of the previous 4 candles, book profit 20 points.

Please note: No trade if the price is with in the two lines. If open price is out site the line wait the price to come in side and break the line.


Bank Nifty
Draw Two horizontal lines on the 5m candle stick chart, at 32735 and 32485.

Buy if the candle closes above 32735 and indicator is above 60,   keep stop loss lowest low of the previous 4 candles, book profit 100 points.

Sell if the candle closes below 32485 and indicator is below 30,   keep stop loss highest high of the previous 4 candles, book profit 100 points.

Please note: No trade if the price is with in the two lines. If open price is out site the line wait the price to come in side and break the line.




The following data may  help the traders to take some trading ideas for the next few days.


My List of Stocks to Watch for short term Trading

M and M BHARTIARTL BPCL IOC SBIN CANBANK ADANIPORTS

Bullish Stocks as per my scanner

HUDCO BANKBARODA M AND M SBIN DLF CANBK TATACHEM BHEL CESC IOC INDHOTEL BPCL BHARTIARTL IDEA BHARATFORG

Bearish Stocks as per my scanner

*******



NIFTY SPOT

KEY LEVEL
14266
EXPECTED RANGE
14778--14350

BANK NIFTY SPOT

KEY LEVEL
31842
EXPECTED RANGE
33290--31855


Technical Tools

  • Support and Resistance

    What support and resistance are, where they are established.

  • Chart Analysis

    This section describes the various kinds of financial charts.

  • Trend Lines

    What trend lines are, scale settings, validation, angles, and more.

  • Introduction to Chart Patterns

    A brief review of what chart patterns are, and how to recognize them.

  • Gaps and Gap Analysis

    A gap is an area on a price chart in which there were no trades.

Copyright © Market Trader | Designed by Templateism.com
DISCLAIMER