My Trading strategy for Nifty and Bank Nifty Futures trading on 17th Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11630 and 11575.
Buy if the candle closes above 11520 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 11495 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 22750 and 22514.
Buy if the candle closes above 22750 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 22514 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
AVANTIFEED PRESTIGE DEEPAKNTR GRANULES CYIENT WABAG CDSL COROMANDEL CROMPTON BALKRISIND SUNTECK ADANIGREEN AUBANK PRINCEPIPE MFSL ACC UPL CUMMINSIND PNBHOUSING NAM-INDIA TVSMOTOR SUNTV ADVENZYMES LICHSGFIN GNFC HEXAWARE TITAN BAJAJ-AUTO |
Bearish Stocks as per my scanner
FRETAIL IBULHSGFIN BANDHANBNK BAJFINANCE HAL SUNPHARMA KOTAKBANK HDFCBANK ICICIBANK HDFC BANKBEES LT HINDUNILVR AXISBANK SRTRANSFIN RBLBANK AUROPHARMA TATASTEEL CIPLA |
My List of Stocks to Watch for short term Trading .
IDFC IFBIND AEGISCHEM VINATIORGA JBCHEPHARM DEEPAKNTR PGHL ZYDUSWELL RADICO TIMETECHNO PRAJIND QUESS BIRLACORPN HEXAWARE GODREJAGRO ORIENTELEC PHILIPCARB PRSMJOHNSN BSE CAPLIPOINT APLAPOLLO SYNGENE TATAINVEST ATUL BOMDYEING BALRAMCHIN TTKPRESTIG JYOTHYLAB LUPIN CROMPTON APOLLOHOSP |