My Trading strategy for Nifty and Bank Nifty Futures trading on 1st Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11310 and 11190.
Buy if the candle closes above 11310 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 11190 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 21580 and 21230.
Buy if the candle closes above 21580 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 21230 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
TECHM DRREDDY ICICILOVOL TCS INFY HCLTECH PNBHOUSING ADANIENT VOLTAS CDSL STAR JUBLFOOD SYNGENE BSOFT |
Bearish Stocks as per my scanner
BDL IBULHSGFIN HAL MCDOWELL-N TATACONSUM MGL LAURUSLABS JINDALSTEL TATASTEEL BHARTIARTL |
My List of Stocks to Watch for short term Trading .
SOLARA BASF LINDEINDIA BLISSGVS GRINDWELL NAVINFLUOR JSLHISAR GALAXYSURF SUDARSCHEM HEIDELBERG BAJAJELEC AKZOINDIA MINDACORP ORIENTREF JSL TCNSBRANDS ADANIGREEN TORNTPHARM COCHINSHIP CREDITACC CUB GREAVESCOT SHREECEM CADILAHC |