My Trading strategy for Nifty and Bank Nifty Futures trading on 23rd Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11255 and 11085.
Buy if the candle closes above 11225 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 11085 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 21480 and 20960.
Buy if the candle closes above 21480 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 20960 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
DEEPAKNTR TCS HCLTECH GRASIM TECHM JUBILANT BSOFT DIVISLAB HEXAWARE WIPRO INFY BAJAJ-AUTO CIPLA CANFINHOME DRREDDY |
Bearish Stocks as per my scanner
ADVENZYMES BDL IOLCP MGL AUBANK PEL GLENMARK TVSMOTOR HAL UJJIVAN TATACHEM CUMMINSIND CONCOR AMARAJABAT SHILPAMED TITAN SBILIFE TORNTPHARM |
My List of Stocks to Watch for short term Trading .
FLUOROCHEM MFSL CENTRALBK CANBK ALKYLAMINE KAJARIACER JMFINANCIL REPCOHOME MGL JINDALSTEL RVNL INOXLEISUR MAHLOG KSB IIFLWAM MARUTI IBULHSGFIN |