My Trading strategy for Nifty and Bank Nifty Futures trading on 30th Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11750 and 11610.
Buy if the candle closes above 11750 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 11610 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 24340 and 23800.
Buy if the candle closes above 24340 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 23800 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
TANLA ASIANPAINT ULTRACEMCO ICICIBANK THYROCARE ACC |
Bearish Stocks as per my scanner
AARTIDRUGS UPL MAZDOCK GESHIP SBILIFE HEROMOTOCO COFORGE CHEMCON GEPIL |
My List of Stocks to Watch for short term Trading .
NAVINFLUOR PIDILITIND MCX STAR AJANTPHARM ORIENTELEC CRISIL SCHAEFFLER BERGEPAINT JSLHISAR AARTIDRUGS INDIGO SOLARA PEL HAVELLS GEPIL LAURUSLABS FINEORG |