My Trading strategy for Nifty and Bank Nifty Futures trading on 20th Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11910 and 11820.
Buy if the candle closes above 11910 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 11820 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 24415 and 23980.
Buy if the candle closes above 24415 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 23980 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
KAJARIACER HAVELLS WIPRO ASIANPAINT STAR INFY |
Bearish Stocks as per my scanner
BPCL CHEMCON MAZDOCK BHARTIARTL DEEPAKNTR SUVENPHAR |
My List of Stocks to Watch for short term Trading .
AMBER FEDERALBNK FINEORG MAHABANK UJJIVANSFB KAJARIACER GICRE DMART BEML ABFRL |