My Trading strategy for Nifty and Bank Nifty Futures trading on 28th Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11080 and 10975.
Buy if the candle closes above 11080 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 10975 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 21110 and 20775.
Buy if the candle closes above 21110 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 20775 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
COFORGE TATAELXSI GLENMARK HCLTECH CIPLA BIOCON GRANULES GRASIM NATCOPHARM BSOFT ESCORTS IBVENTURES TCS BALKRISIND INFY CDSL VOLTAS COLPAL WIPRO HEROMOTOCO TECHM TVSMOTOR CADILAHC |
Bearish Stocks as per my scanner
HDFCBANK HINDUNILVR SUNPHARMA KOTAKBANK TECHNOE ICICIPRULI UPL GSPL IEX CROMPTON METROPOLIS ABFRL HAL ORIENTELEC |
My List of Stocks to Watch for short term Trading .
NCC KRBL GMRINFRA GRAPHITE JUSTDIAL GARFIBRES ADVENZYMES |