My Trading strategy for Nifty and Bank Nifty Futures trading on 11th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12680 and 12530.
Buy if the candle closes above 12680 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 12530 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 28820 and 28180.
Buy if the candle closes above 28820 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 28180 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
LT TATAMOTORS L TFH BANKBARODA HDFCLIFE RECLTD HINDPETRO ULTRACEMCO |
Bearish Stocks as per my scanner
UPL LAURUSLABS BIOCON AARTIDRUGS STAR IPCALAB |
My List of Stocks to Watch for short term Trading .
INDHOTEL PGHH LEMONTREE INDIGO BAJFINANCE UBL ASHOKLEY EIHOTEL INDUSINDBK IRCON PHOENIXLTD LT BAJAJFINSV AUBANK LICHSGFIN VIPIND ITDC REPCOHOME BHARATFORG |