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SP 44 points Day Trading Strategy |
shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
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Post: #1  Posted: Thu Aug 02, 2012 10:53 am Post subject: SP 44 points Day Trading Strategy |
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Strategy is quite simple.
1) Strategy based on Nifty Spot
2) Divide nifty spot level with 44 ie: 5100/44 = 115.9
115 x 44 = 5060 is support or resistance
116 x 44 = 5104 is support or resistance
3) Take long or short position only with 5 point green candle for long or 5 point red candle (Short) above or below support resistance level.
Attached exel sheet provides you the support resistance level.
Best regards,
Shankarr Parray
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Download |
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SP 44 STRATEGY FOR DAY TRADING.xlsx |
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anand1234
Yellow Belt
Joined: 17 Jul 2010
Posts: 830
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| Post: #2 Posted: Thu Aug 02, 2012 11:10 am Post subject: |
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hi.........sankar
in which time we can take spot for divide by 44??..........we r not technical person........so its better for us if u update when buy/sell signal is coming...........if possible with the tgt.........then it will b better for us......thx and keep rocking........
thx
anand
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mukesh1984
White Belt
Joined: 16 Jul 2012
Posts: 3
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| Post: #3 Posted: Thu Aug 02, 2012 11:17 am Post subject: |
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hi shankar,
can u put an excel file bcoz the file which u have attached is not opening in my pc?
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #4 Posted: Thu Aug 02, 2012 11:22 am Post subject: |
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| Same here, file is not opening..also pl tell spot lvl of wat time or (may be any time) can be taken to calculate lvls..
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shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
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| Post: #5 Posted: Thu Aug 02, 2012 11:32 am Post subject: |
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SMART , you can check any given time there is no particular time frame. you can plan EOD basis and follow up next day morning at opening. since yesterday it is under sell mode. target is 5196.
now market is in sideways look for small profits better to book at 5196 and look for 5 point red candle formation or green candle formation above 5196 to continue with your trades.
Or you can go long above 5236 level provided there is 5 point green candle above 5236.
hope now everything is clear.
excel is working fine.
wish you all the best.
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PRERANG
White Belt
Joined: 30 Jun 2008
Posts: 2
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| Post: #6 Posted: Fri Aug 03, 2012 8:58 am Post subject: |
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shankar10 sir
can u pl tell what u mean by 5 point red candle or 5 point green candle. i mean what time frame candle are we to look into.
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shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
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| Post: #7 Posted: Fri Aug 03, 2012 9:34 am Post subject: |
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PRERANG, you can use 5 mnt TF. above support/ resistance level, wait one full 5 point green or red candle. if you are going short than there sholud be one 5 point red candle below the level similarly green candle above the level.
plot the provided level in 5 mnt tf and study the chart with strategy you will good grip of it.
happy trading.
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