My Trading strategy for Nifty and Bank Nifty Futures trading on 9th Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11380 and 11290.
Buy if the candle closes above 11380 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 11290 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 22880 and 22680.
Buy if the candle closes above 22880 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 22680 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
TANLA ICICIPRULI PNBHOUSING NIITLTD FDC DEEPAKNTR BPCL HEXAWARE HCLTECH ADANIGREEN INDIGO JUBLFOOD INFY IBVENTURES SBICARD RELIANCE TECHM PIDILITIND MARUTI LAURUSLABS HDFCBANK BLISSGVS |
Bearish Stocks as per my scanner
AUROPHARMA AVANTIFEED BAJAJ-AUTO CONCOR FRETAIL GODREJPROP HAL HDFC IGL KOTAKBANK MGL PEL RBLBANK SHILPAMED SRTRANSFIN TATACHEM |
My List of Stocks to Watch for short term Trading .
PFIZER CESC IRCTC BPCL NAUKRI CROMPTON HCLTECH GICRE PEL SAIL COFORGE ICICIPRULI WHIRLPOOL BAJAJHLDNG PNBHOUSING |