My Trading strategy for Nifty and Bank Nifty Futures trading on 2nd Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11590 and 11422.
Buy if the candle closes above 11590 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 11422 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 24210 and 23495.
Buy if the candle closes above 24210 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 23495 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
Biocon Limited Bharti Airtel Limited Pvr Limited Jsw Steel Limited Ipca Laboratories Limited Jindal Steel and Power Limited Balrampur Chini Mills Limited Phillips Carbon Black Limited Tata Steel Limited Asian Paints Limited TATA Consumer Products Ltd Apollo Hospitals Enterprise Limited Granules India Limited Eid Parry India Limited Inox Leisure Limited Hindustan Unilever Limited |
Bearish Stocks as per my scanner
Future Retail Limited Zen Technologies Limited Repco Home Finance Limited Hindustan Aeronautics Ltd Va Tech Wabag Limited Aditya Birla Fashion And Retail Limited Future Lifestyle Fashions Limited Gujarat Gas Limited Strides Shasun Limited Astra Microwave Products Limited Kec International Limited Axis Bank Limited Just Dial Limited Coromandel International Limited Pnb Housing Finance Limited Graphite India Limited Rbl Bank Limited Raymond Limited Sun Pharma Advanced Research Company Limited Adani Ports And Special Economic Zone Limited Gic Housing Finance Limited |
My List of Stocks to Watch for short term Trading .
SOLARINDS FCONSUMER BIOCON IDEA ESSELPACK INFRATEL MGL JSWENERGY ESCORTS MPHASIS SUNDRMFAST HINDALCO TORNTPOWER KAJARIACER WABCOINDIA SANOFI |