My Trading strategy for Nifty and Bank Nifty Futures trading on 4th Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11590 and 11510.
Buy if the candle closes above 11590 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 11510 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 23840 and 23450.
Buy if the candle closes above 23840 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 23450 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
ADANIGAS ADANIPORTS APOLLOHOSP AXISBANK BAJFINANCE BANDHANBNK BANKBEES BATAINDIA BHARTIARTL BIOCON DIVISLAB FDC FRETAIL GRANULES GRASIM HDFCBANK ICICIBANK INDIGO INDUSINDBK KOTAKBANK LICHSGFIN M and M NAM-INDIA PNBHOUSING PRESTIGE PVR RBLBANK RELIANCE STAR TATACONSUM TATASTEEL |
Bearish Stocks as per my scanner
ACC AUROPHARMA BALKRISIND CADILAHC CIPLA COLPAL DABUR DRREDDY GODREJCP HAL HDFC HDFCLIFE HINDUNILVR ICICIPRULI IGL INFY MCDOWELL-N MGL MUTHOOTFIN PEL SBILIFE SIEMENS SRTRANSFIN SUNPHARMA TATACHEM ULTRACEMCO |
My List of Stocks to Watch for short term Trading .
UBL PGHH INDIAMART CDSL BSE CARERATING SUPREMEIND JSWENERGY ESCORTS HEXAWARE POLYMED JKCEMENT MCX TORNTPHARM GPPL JUBLFOOD NAUKRI KALPATPOWR |