My Trading strategy for Nifty and Bank Nifty Futures trading on 26th Oct., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11980 and 11890.
Buy if the candle closes above 11980 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 11890 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 24660 and 24375.
Buy if the candle closes above 24660 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 24375 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
RAMCOSYS TECHM TITAN ICICIBANK ASIANPAINT TCS HAVELLS MINDTREE HDFCBANK LAURUSLABS INFY WIPRO AXISBANK INTELLECT ACC HCLTECH GLOBUSSPR ULTRACEMCO |
Bearish Stocks as per my scanner
FMGOETZE BPCL CARERATING |
My List of Stocks to Watch for short term Trading .
JKTYRE HIMATSEIDE SPICEJET DCAL ABFRL GHCL NCC BHARATFORG CROMPTON MAHLOG SADBHAV APOLLOTYRE ORIENTELEC POLYCAB ASAHIINDIA JUBILANT SBICARD CHENNPETRO |