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 11235 and 11125.
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 11125 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 21385 and 21070.
Buy if the candle closes above 21385 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 21070 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
PAPERPROD CDSL MAHINDCIE KPITTECH SEQUENT KAJARIACER NOCIL PRINCEPIPE BATAINDIA HEXAWARE HAVELLS |
Bearish Stocks as per my scanner
PIDILITIND CHOLAFIN ICICITECH HAL PEL ICICIBANK PVR MGL IEX SUNPHARMA SBIN BHARATFORG HEROMOTOCO TORNTPOWER CENTURYTEX SPARC AUBANK APOLLOTYRE KEC AUROPHARMA UJJIVAN BALRAMCHIN SRTRANSFIN FRETAIL LTI JUBILANT |
My List of Stocks to Watch for short term Trading .
HINDZINC BHARTIARTL PAGEIND FORTIS INFRATEL BATAINDIA PETRONET ZEEL |