My Trading strategy for  Nifty and Bank Nifty Futures trading on 19th Oct., 2020

Rules:
Chart :  candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )

NIFTY

Draw Two horizontal lines on the 5m candle stick chart, at 11805 and 11695.

Buy if the candle closes above 11805 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 11695 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 23720 and 23270.

Buy if the candle closes above 23720 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 23270 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 GLOBUSSPR HEROMOTOCO KAJARIACER DRREDDY HDFC MPHASIS STAR HAVELLS APOLLOHOSP TCS INFY WIPRO ADANIGREEN LAURUSLABS CADILAHC HCLTECH COFORGE RAMCOSYS MINDTREE

Bearish Stocks as per my scanner TATASTEEL MGL MAHESHWARI COROMANDEL BHARTIARTL VEDL BPCL VBL CHEMCON

My List of Stocks to Watch for short term Trading . IDBI AMBER GPPL SUNTECK IFBIND CYIENT KSCL JUSTDIAL POLYMED KANSAINER MINDTREE UPL