My Trading strategy for Nifty and Bank Nifty Futures trading on 22nd Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12020 and 11765.
Buy if the candle closes above 12020 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 11765 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 24880 and 24480.
Buy if the candle closes above 24880 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 24480 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
MINDTREE HCLTECH TECHM ASIANPAINT HDFCBANK LAURUSLABS COFORGE INFY WIPRO TCS STAR HAVELLS DRREDDY APOLLOHOSP HEROMOTOCO HDFC SHAKTIPUMP |
Bearish Stocks as per my scanner
BHARTIARTL IOLCP DEEPAKNTR COROMANDEL BPCL MAZDOCK HAL |
My List of Stocks to Watch for short term Trading .
GODREJPROP DLF JSWSTEEL SOBHA ABCAPITAL APOLLOTYRE IBREALEST BRIGADE |