My Trading strategy for Nifty and Bank Nifty Futures trading on 1st Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11555 and 11345.
Buy if the candle closes above 11555 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 11345 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 24635 and 23365.
Buy if the candle closes above 24635 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 23365 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
GUJGASLTD INDIGO GODREJPROP TCS HDFCBANK ADANIPORTS MFSL TECHM TRENT HEG ADANIGREEN BHARATFORG UPL HDFC |
Bearish Stocks as per my scanner
BAJAJ-AUTO BHARTIARTL BPCL CANFINHOME CONCOR COROMANDEL EICHERMOT HCLTECH IGL IOLCP M&M MGL MUTHOOTFIN RALLIS RAMCOCEM RELIANCE ULTRACEMCO |
My List of Stocks to Watch for short term Trading .
FRETAIL BANKINDIA ONGC GUJGASLTD INDIGO GODREJPROP TCS CROMPTON WIPRO INFY AMARAJABAT ADANIPORTS INFRATEL TECHM BAJAJ-AUTO BPCL COLPAL JSWENERGY BHARTIARTL ITC |