How to rebalance portfolio

how to rebalance my portfolio?

i m buying only stock which is at 52 week high stock.
I am making portfoilo of 15 stocks max investing equal amt. in all scripts.

1st i sort the stock which gave more returns more than benchmark( nse smallcap 250).
2nd step i sort the stock which is near to its 52 week high.
then select top 15 stock.

if the stock ranked below 30 than i removed from my PF.

Is this right way of rebalancing ?

ANY SUGGESTIONS