Nifty Trading Strategy 21st January 2024

Nifty Trading Strategy
Buy Strategy:
Entry Point:
Condition: Wait for the 15-minute candle to close above 23,470.
Trigger: Buy when the price moves above the high of the 15-minute candle that closed above 23,470.
Targets: 23,510, 23,565, 23,640

Sell Strategy:
Entry Point:
Condition: Wait for the 15-minute candle to close below 23,170.
Trigger: Sell when the price moves below the low of the 15-minute candle that closed below 23,170.
Targets: 23,121, 23,040,22,990

Risk Management:
Position Sizing:
Use proper position sizing to ensure you do not risk more than 1-2% of your trading capital on a single trade. This helps to manage risk and protect your capital.

Diversification:
Avoid putting all your capital into a single trade or asset. Diversify your trades across different assets to minimize risk.

Discipline:
Stick to the trading plan and do not deviate from the strategy. Avoid making impulsive decisions based on emotions.

Disclaimer:
I am not SEBI Registered. This analysis is based on historical data and market trends. Past performance is not indicative of future results. Trading and investment involve risks, and you should conduct your own research or consult with a financial advisor before making any decisions.