My Trading strategy for Nifty and Bank Nifty Futures trading on 28th Aug., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11620 and 11560.
Buy if the candle closes above 11620 and indicator is above 60, keep stop loss lowest low of the previous 4 candles, book profit 20 points.
Sell if the candle closes below 11560 and indicator is below 30, keep stop loss highest high of the previous 4 candles, book profit 20 points.
Please note: No trade if the price is with in the two lines. If open price is out site the line wait the price to come in side and break the line.
Bank Nifty
Draw Two horizontal lines on the 5m candle stick chart, at 23675 and 23530.
Buy if the candle closes above 23675 and indicator is above 60, keep stop loss lowest low of the previous 4 candles, book profit 100 points.
Sell if the candle closes below 23530 and indicator is below 30, keep stop loss highest high of the previous 4 candles, book profit 100 points.
Please note: No trade if the price is with in the two lines. If open price is out site the line wait the price to come in side and break the line.
The following data may help the traders to take some trading ideas for the next few days.
Bullish Stocks as per my scanner
PRESTIGE SUNTECK GODREJPROP PNBHOUSING STAR JUBLFOOD CAPLIPOINT GRASIM BHARATFORG DIVISLAB VOLTAS RAYMOND GLENMARK WOCKPHARMA IBULHSGFIN |
Bearish Stocks as per my scanner
BHARTIARTL CONCOR GODREJCP HDFCLIFE HINDUNILVR ICICIPRULI MCDOWELL-N SBILIFE |
My List of Stocks to Watch for short term Trading .
GODREJPROP OFSS OBEROIRLTY DLF PEL PNBHOUSING PRESTIGE BBTC BANDHANBNK INDUSINDBK APOLLOTYRE BANKINDIA HDFC ITC MPHASIS SYNGENE LTI HINDZINC TATAMOTORS |