My Trading strategy for Nifty and Bank Nifty Futures trading on 21st Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11540 and 11450.
Buy if the candle closes above 11540 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 11450 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 22165 and 21790.
Buy if the candle closes above 22165 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 21790 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
PRINCEPIPE GNFC GUJGASLTD ADANIPORTS VIPIND WOCKPHARMA AUBANK JUBILANT BIOCON SHILPAMED SUNPHARMA AUROPHARMA ADVENZYMES CENTURYTEX HEROMOTOCO SYNGENE ACC GODREJPROP UPL TORNTPHARM BAJAJ-AUTO BALKRISIND |
Bearish Stocks as per my scanner
AXISBANK COLPAL DMART EICHERMOT HAL HDFC HDFCLIFE HINDUNILVR ICICIPRULI INFRATEL KOTAKBANK LT MCDOWELL-N MUTHOOTFIN PVR SBILIFE TATACHEM TATASTEEL UJJIVAN |
My List of Stocks to Watch for short term Trading .
NATCOPHARM RAJESHEXPO DRREDDY GPPL CIPLA SUDARSCHEM BAYERCROP ASTERDM LAURUSLABS AIAENG DELTACORP JBCHEPHARM SYMPHONY SUMICHEM ORIENTELEC MAHINDCIE ESSELPACK |