My Trading strategy for Nifty and Bank Nifty Futures trading on 7th Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11685 and 11570.
Buy if the candle closes above 11685 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 11570 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 22950 and 22570.
Buy if the candle closes above 22840 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 22270 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
VENKEYS PNBHOUSING TECHM HCLTECH STAR BSOFT DRREDDY CDSL SYNGENE JUBLFOOD |
Bearish Stocks as per my scanner
IBULHSGFIN MCDOWELL-N BHARTIARTL CHEMCON TATASTEEL |
My List of Stocks to Watch for short term Trading .
DALBHARAT GODREJAGRO HDFC FORTIS LICHSGFIN HAVELLS TATAMOTORS PGHH DABUR HINDZINC GODREJPROP INDHOTEL EICHERMOT ISEC ABFRL AUBANK BERGEPAINT VBL BBTC |