Nifty Trading Strategy for 27th December 2024Nifty Trading Strategy
Buy Scenario
Entry Point: Enter a Buy trade if the price of Nifty closes above the high of the 1-hour candle at 23,870.
Upside Targets:
First Target: 23,925
Second Target: 23,975
Third Target: 24,030
Stop Loss: Place a stop loss below the nearest support level or the low of the breakout candle. This helps to limit your downside risk in case the trade does not move in your favor.
Sell Scenario
Entry Point: Enter a Sell trade if the price of Nifty closes below the low of the 1-hour candle at 23,640.
Downside Targets:
First Target: 23,620
Second Target: 23,580
Third Target: 23,530
Stop Loss: Place a stop loss above the nearest resistance level or the high of the breakout candle to minimize potential losses.
Risk Management: Always determine your position size based on risk tolerance and maintain a reward-to-risk ratio of at least 2:1 for better trade outcomes.
Market Sentiment: Keep an eye on global cues, news events, or announcements that may impact market movement.
Disclaimer:
This analysis is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Please note:
I am not SEBI-registered, and this strategy is based on my personal understanding of the market.
Trading in financial markets carries significant risk, including the risk of losing your entire investment.
Use this strategy at your own discretion, and ensure you understand the risks involved.
It is strongly recommended to consult with a SEBI-registered advisor or conduct your own research before making any trading decisions.
Past performance is not indicative of future results.
