My Trading strategy for Nifty and Bank Nifty Futures trading on 14th Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11480 and 11445.
Buy if the candle closes above 11480 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 11445 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 22680 and 22390.
Buy if the candle closes above 22680 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 22390 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
ADANIGREEN SHILPAMED INDIGO JUBLFOOD TRENT SBILIFE TECHM GODREJCP LAURUSLABS HAVELLS BANDHANBNK COLPAL HEROMOTOCO TVSMOTOR SUNTV VOLTAS GRASIM PIDILITIND AMARAJABAT INFY |
Bearish Stocks as per my scanner
ACC HAL BHARTIARTL EICHERMOT HDFC SUNPHARMA MCDOWELL-N LT M&M BDL TATASTEEL CIPLA AUROPHARMA GODREJPROP APOLLOHOSP KOTAKBANK MGL RBLBANK PEL TATACHEM GRAPHITE |
My List of Stocks to Watch for short term Trading .
STAR WESTLIFE HINDCOPPER KAJARIACER THYROCARE CEATLTD ERIS EMAMILTD FORTIS HINDZINC MANAPPURAM NFL CUMMINSIND WIPRO JUBLFOOD |