Nifty, Banknifty and Stock Analysis | 16th dec

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.