My Trading strategy for Nifty and Bank Nifty Futures trading on 29th 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 11675.
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 11675 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 24620 and 24030.
Buy if the candle closes above 24620 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 24030 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
TCS MINDTREE ULTRACEMCO HCLTECH HAVELLS WIPRO INFY ACC ASIANPAINT HDFCBANK AXISBANK ICICIBANK |
Bearish Stocks as per my scanner
MAZDOCK UPL IBVENTURES HEROMOTOCO COFORGE |
My List of Stocks to Watch for short term Trading .
IPCALAB FINPIPE KOTAKBANK TEAMLEASE VRLLOG NLCINDIA CEATLTD BBTC VSTIND RATNAMANI CARBORUNIV MAHSEAMLES WESTLIFE SHREECEM LAXMIMACH INFIBEAM MRF SCHAEFFLER RELAXO ASTERDM PGHL |