My Trading strategy for Nifty and Bank Nifty Futures trading on 8th Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11780 and 11690.
Buy if the candle closes above 11780 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 11690 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 23120 and 22650.
Buy if the candle closes above 23120 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 22650 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
SOLARA TANLA GLOBUSSPR JUBLFOOD STAR TECHM HCLTECH DRREDDY CDSL BSOFT ADANIGREEN |
Bearish Stocks as per my scanner
AARTIDRUGS MCDOWELL-N BHARTIARTL CHEMCON TATASTEEL |
My List of Stocks to Watch for short term Trading .
LALPATHLAB OIL FORTIS AMBUJACEM EDELWEISS ADANITRANS TRENT TITAN ONGC ACC GODREJAGRO AJANTPHARM RELIANCE HINDZINC ULTRACEMCO BALKRISIND PIDILITIND |