My Trading strategy for Nifty and Bank Nifty Futures trading on 5th Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11455 and 11390.
Buy if the candle closes above 11455 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 11390 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 22370 and 21980.
Buy if the candle closes above 22370 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 21980 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
TECHM ADANIENT SYNGENE INFY STAR CDSL HCLTECH MINDTREE VOLTAS BSOFT DRREDDY |
Bearish Stocks as per my scanner
BDL BHARTIARTL JINDALSTEL TATASTEEL MCDOWELL-N IBULHSGFIN HAL LAURUSLABS GAEL |
My List of Stocks to Watch for short term Trading .
HIMATSEIDE TRIDENT INDUSINDBK MAHSCOOTER PVR SUNDARMFIN INDOCO EQUITAS INOXLEISUR |