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In this post we will discuss about how to trade Nifty and banknifty on 16th dec 2020
Nifty
Resistance= 13580-600 is the resistance.
Play only on a gap up
BUY on first 15 min candle chart high (either a elephant bar or a hammer candle)
sl= below candle low.
13562-13450 is no trade zone.
We will trade the edges Only
Banknifty
Buy above 30900 if we get a 15 min close (in gap up)
30850-30400 is a no trade zone
Stocks
Eicher Motors
Buy above 2490 (5 min close with volume) sl=2475
Jswsteel
Buy above 366 sl=363
tgt=370/373/376
HDFC BANK
Buy above 1398 sl=1389 tgt= 1410/1415/1422
Please consult your financial advisor before taking the above trades.
