My Trading strategy for Nifty and Bank Nifty Futures trading on 7th Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11475 and 11305.
Buy if the candle closes above 11475 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 11305 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 23440 and 22850.
Buy if the candle closes above 23440 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 22850 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
Grp Limited Jay Bharat Maruti Limited Asahi Songwon Colors Limited Unichem Laboratories Limited Eimco Elecon (india) Limited Advanced Enzyme Technologies Limited Oriental Carbon Chemicals Limited Jubilant Life Sciences Limited Jb Chemicals Pharmaceuticals Limited Sanofi India Limited Abbott India Limited Ipca Laboratories Limited Matrimony.com Ltd Adf Foods Limited Thyrocare Technologies Limited Indian Railway Catering Tourism Corporation Ltd |
Bearish Stocks as per my scanner
Petronet Lng Limited Aditya Birla Fashion And Retail Limited Larsen & Toubro Limited Indian Energy Exchange Ltd Rbl Bank Limited Sun Pharmaceuticals Industries Limited Housing Development Finance Corporation Limited BANKBEES Container Corporation Of India Limited Aurobindo Pharma Limited Dlf Limited Bharat Petroleum Corporation Limited Sun Pharma Advanced Research Company Limited Lic Housing Finance Limited Icici Bank Limited Coromandel International Limited Tata Chemicals Limited State Bank Of India Adani Ports And Special Economic Zone Limited Icici Prudential Life Insurance Company Limited Axis Bank Limited D-link (india) Limited |
My List of Stocks to Watch for short term Trading .
Ifb Industries Limited Lakshmi Machine Works Limited Granules India Limited Jamna Auto Industries Limited Supreme Industries Limited |