My Trading strategy for Nifty and Bank Nifty Futures trading on 15th Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12015 and 11880.
Buy if the candle closes above 12015 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 11880 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 24080 and 23620.
Buy if the candle closes above 24080 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 23620 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
ADVENZYMES ADANIGREEN JUBLFOOD MPHASIS PNBHOUSING STAR SYNGENE CADILAHC KAJARIACER |
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 .
TATACHEM JSWENERGY SBICARD OFSS NTPC NAUKRI WHIRLPOOL NATCOPHARM ENDURANCE NMDC LTI GODREJIND GODREJCP GSPL CROMPTON BAJAJHLDNG |