BANK NIFTY INTRA
TRADE TYPE - INTRADAY
TIME FRAME - 30MIN
STOP TRADE - AFTER 2:45
TRADE SQUARE - @ 3:15
LONG CONDITION
- PRICE ABOVE 20 EMA
- RSI ABOVE 60
- PRICE CLOSE ABOVE THE HIGH OF 2nd 30MIN CANDLE
- CANDLE FORMATION MUST BE BULLISH
- TRADE TRIGGERED CLOSE NOT MORE THAN 105pt TO BREAKOUT
- ATR IS NOT MORE THAN 200pt.
- TARGET AND STOPLOSS SAME AS ATR @ TRADE CANDLE
SHORT CONDITION
- PRICE BELOW 20 EMA
- RSI BELOW 40
- PRICE CLOSE BELOW THE LOW OF 2nd 30MIN CANDLE
- CANDLE FORMATION MUST BE BEARISH
- TRADE TRIGGERED CLOSE NOT MORE THAN 105pt TO BREAKOUT
- ATR IS NOT MORE THAN 200pt.
- TARGET AND STOPLOSS SAME AS ATR @ TRADE CANDLE
BANKNIFTY BREAKOUT TRADING
TIME FRAME : 15MIN CANDLE
RISK REWARD : 1:2
LONG CONDITIONS
- PRICE MUST BE ABOVE 26MA.
- REVERSAL PATTERN TRADE
FIND A CANDLE FORMATION OF TWO CANDLES MAKING LOWER HIGH
AND LOWER LOW.
3RD CANDLE MUST OPEN ABOVE THE LOW OF BOTH FIRST TWO
CANDLES.
AND WHEN 3RD CANDLE BREAKS HIGH OF 2ND CANDLE IN
FORMATION GO LONG.
- STOPLOSS IS SAME AS 2ND CANDLE RANGE AND TARGET IS TWICE
TO STOPLOSS I.E. 1:2 RR.
- IF TWO CANDLE FORMATION IS FORM LAST TRADING SESSION THAN
FIRST CANDLE OF NEXT TRADING DAY MUST OPEN ABOVE THE LOW
OF 1ST CANDLE AND BELOW THE HIGH OF 2ND CANDLE. THAN ONLY
GO LONG AFTER HIGH BROKE BY 3RD CANDLE I.E. 1ST CANDLE OF
NEW DAY.
SHORT CONDITIONS
- PRICE MUST BE BELOW 26 MA
- REVERSAL PATTERN TRADE
FIND A CANDLE FORMATION OF TWO CANDLES MAKING HIGHER HIGH
AND HIGHER LOW.
3RD CANDLE MUST OPEN BELOW THE HIGH OF BOTH FIRST TWO
CANDLES.
AND WHEN 3RD CANDLE BREAKS LOW OF 2ND CANDLE IN
FORMATION GO SHORT.
- STOPLOSS IS SAME AS 2ND CANDLE RANGE AND TARGET IS TWICE
TO STOPLOSS I.E. 1:2 RR.
- IF TWO CANDLE FORMATION IS FROM LAST TRADING SESSION THAN
FIRST CANDLE OF NEXT TRADING DAY MUST OPEN BELOW THE HIGH
OF 1ST CANDLE AND ABOVE THE LOW OF 2ND CANDLE. THAN ONLY
GO LONG AFTER LOW BROKE BY 3RD CANDLE I.E. 1ST CANDLE OF
NEW DAY.
- DO NOT HOLD TARDE FOR MORE THAN 5 CANDLES AND DO NOT
TRADE AFTER 3PM OR SQUARED OFF TRADE AT 3:15PM .
NOTES
- IN A FORMATION OF HL-LL, 2ND CANDLE’S CLOSE BELOW THE 26MA
LINE THAN DON’T GO LONG
- IN A FORMATION OF HH-HL, 2ND CANDLE’S CLOSE IS ABOVE THE
26MA LINE THAN DON’T GO SHORT.
- IF STOPLOSS IS MORE THAN 100POINTS THAN REVISE IT AFTER
PRICE MOVES IN YOUR TRADE DIRECTION.
CONDITION TO REVISE :- PRICE MUST MOVE AT LEAST 1:1 IN YOUR
FAVOUR TO REVISE YOUR SL.
HOW MUCH TO REVISE :- FOR EXAMPLE SL IS 100 POINTS THAN YOU
NEED TO DEDUCT 20% FROM IT AND ADD TO YOUR BUYING PRICE OR
DEDUCT FROM YOUR SELL PRICE.
100-20% = 80 AND BUYING PRICE IS 23000 THAN NEW SL IS 23080.
100-20% = 80 AND SELLING PRICE IS 23000 THAN NEW SL IS 22980.
- IF STOPLOSS IS MORE THAN 80 POINTS AND LESS THAN 100 POINTS
THAN REVISE IT AFTER PRICE MOVES IN YOUR TRADE DIRECTION.
CONDITION TO REVISE :- PRICE MUST MOVE AT LEAST 1:1.5 IN YOUR
FAVOUR TO REVISE YOUR SL.
HOW MUCH TO REVISE :- AFTER PRICE MOVES 1:1.5 IN YOUR FAVOUR
SIMPLY CHANGE YOUR SL TO 1:1.
