My Trading strategy for Nifty and Bank Nifty Futures trading on 27th Aug., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11565 and 11455.
Buy if the candle closes above 11565 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 11455 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 23455 and 23135.
Buy if the candle closes above 23455 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 23135 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
BALAMINES ZEEL IBULHSGFIN RAYMOND KALPATPOWR CENTURYTEX PNBHOUSING BSOFT JUBILANT COCHINSHIP VARROC BALKRISIND EICHERMOT GLENMARK SUNTV |
Bearish Stocks as per my scanner
BHARTIARTL BRITANNIA CONCOR ESCORTS GODREJCP HDFCLIFE HINDUNILVR ICICIPRULI JUSTDIAL MCDOWELL-N MUTHOOTFIN PEL SBILIFE |
My List of Stocks to Watch for short term Trading .
ENDURANCE SKFINDIA VENKEYS BAJAJELEC DCMSHRIRAM ASTRAZEN TVSMOTOR CANFINHOME IIFL BLUEDART LAOPALA IBULHSGFIN POLYCAB KPITTECH CEATLTD ADANIPORTS TATAMOTORS OFSS AVANTIFEED JKTYRE TATAMTRDVR GSFC BAJAJ-AUTO |