My Trading strategy for Nifty and Bank Nifty Futures trading on 8th Sep., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11410 and 11290.
Buy if the candle closes above 11410 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 23110 and 22680.
Buy if the candle closes above 23110 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
STRTECH TANLA ADANIGAS TATAELXSI PNBHOUSING HDFCLIFE STAR DRREDDY NAM-INDIA HAVELLS ADANIGREEN ZEEL TVSMOTOR LAURUSLABS ASIANPAINT HCLTECH SUNTV RAMCOCEM TITAN BERGEPAINT EICHERMOT DMART |
Bearish Stocks as per my scanner
JUBILANT FRETAIL IOLCP BANDHANBNK TATACHEM LUPIN HAL GUJGASLTD ULTRACEMCO AUROPHARMA CONCOR MCDOWELL-N LT CIPLA MGL BPCL GODREJCP TORNTPOWER |
My List of Stocks to Watch for short term Trading .
TVTODAY IRCTC LAXMIMACH BLUEDART ASTRAZEN NLCINDIA KPRMILL PFIZER GRINDWELL GRANULES ABB SEQUENT GLAXO TATAMTRDVR GPPL IRCON ACC STRTECH SYNGENE |