My Trading strategy for Nifty and Bank Nifty Futures trading on 21st Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11950 and 11885.
Buy if the candle closes above 11950 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 11885 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 24460 and 24190.
Buy if the candle closes above 24460 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 24190 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
MINDTREE HCLTECH TECHM ASIANPAINT HDFCBANK LAURUSLABS COFORGE INFY WIPRO TCS STAR HAVELLS DRREDDY APOLLOHOSP HEROMOTOCO HDFC SHAKTIPUMP |
Bearish Stocks as per my scanner
BHARTIARTL IOLCP DEEPAKNTR COROMANDEL BPCL MAZDOCK HAL |
My List of Stocks to Watch for short term Trading .
BRITANNIA ACC ABBOTINDIA HINDUNILVR LT ADANIENT CUB EMAMILTD BATAINDIA HDFCLIFE IDEA NESTLEIND |