Day Trading Levels for 20th Dec, 2023

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My Trade plan for

Nifty and Bank Nifty Futures trading on 20th Dec., 2023




Rules:
Chart :  candlestick 5m chart.
Indicator : NO INDICATOR

NIFTY

Draw Two horizontal lines on the 5m candle stick chart, at 21510 and 21360.

Buy if the candle closes above 21510    keep stop loss lowest low of the previous 4 candles, book profit 40 to 50 points.

Sell if the candle closes below 21360    keep stop loss highest high of the previous 4 candles, book profit 40 to 50 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 48050 and 47670.

Buy if the candle closes above 48050    keep stop loss lowest low of the previous 4 candles, book profit 150 to 200 points.

Sell if the candle closes below 47670    keep stop loss highest high of the previous 4 candles, book profit 150 to 200 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.




KEY LEVELS TO WATCH

INDEX KEY LEVEL RANGE PIVOT(D) PIVOT(W) PIVOT(M) PCR
NIFTY 20850 21660--21230 21429 20827 19755 0.99
BANK NIFTY 46860 48348--47343 47836 46483 43945 0.89

My List Of Stocks for short term Trading


Momentum

DCMSHRIRAM- ORIENTELEC- CENTURYPLY- OIL- GESHIP- COALINDIA- BEML- DEVYANI- AARTIDRUGS- HINDCOPPER

Bullish Stocks as per my scanner

DCMSHRIRAM- CENTURYPLY- GESHIP- COALINDIA- BEML- MINDACORP- NLCINDIA- VBL- MOTILALOFS- HDFCAMC- INDIACEM- COCHINSHIP

Bearish Stocks as per my scanner

PRAJIND- PIIND- PAYTM- BALRAMCHIN- SONATSOFTW- DELHIVERY


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.

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