My Trading strategy for Nifty and Bank Nifty Futures trading on 14th Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11990 and 11905.
Buy if the candle closes above 11990 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 11905 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 23490.
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 23490 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
CAREERP STAR SYNGENE BSOFT TECHM DRREDDY ADANIENT ADANIGREEN IBVENTURES LAURUSLABS RAMCOSYS |
Bearish Stocks as per my scanner
BPCL ABB BHARTIARTL MCDOWELL-N TATASTEEL VBL AARTIDRUGS OBEROIRLTY CHEMCON |
My List of Stocks to Watch for short term Trading .
WIPRO CADILAHC JUSTDIAL MINDTREE REPCOHOME BALRAMCHIN MPHASIS LTI |