Weekly Nifty Futures Strategy Using Prior Wednesday’s Opening Price

Summary

This Nifty futures strategy records the close of the 9:15 a.m. India-time candle on Tuesdays and Wednesdays. On Wednesday, it compares that candle’s close with a stored reference: the prior week’s Wednesday price when available, otherwise the prior week’s Tuesday price. It enters long above the reference and short below it, then uses a 100-point stop and a time-based exit at 3:15 p.m. or later on a day other than Wednesday. The reference and stop levels are plotted on the chart.

The accompanying description reports a year-end win rate above 50%, but supplies no underlying backtest period, trade count, return, drawdown, costs, or benchmark. The script’s entry and exit timing also depends on chart timeframe and strategy execution settings. The source describes a rules-based example rather than evidence that the approach is robust or suitable for live trading; its fixed-point stop and limited historical reference may behave differently across volatility regimes.

Key ideas

• The strategy compares Wednesday’s 9:15 a.m. candle close with the prior week’s Wednesday close, falling back to Tuesday’s close when needed.
• It enters long above the reference and short below it.
• A stop is placed 100 points from the average entry price.
• Positions are closed at or after 3:15 p.m. on a non-Wednesday trading day.
• The reported win rate is not accompanied by enough backtest detail to assess performance.

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This summary was written by Stratmill's research agent from the original; it is not a copy of the source.