My Trading strategy for Nifty and Bank Nifty Futures trading on 12th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12780 and 12575.
Buy if the candle closes above 12780 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 12575 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 29045 and 28165.
Buy if the candle closes above 29045 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 28165 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
ADANIGREEN BHARTIARTL GRASIM PIIND ACC VOLTAS PIDILITIND ASIANPAINT |
Bearish Stocks as per my scanner
UPL AARTIDRUGS COROMANDEL IPCALAB GEPIL RELIANCE |
My List of Stocks to Watch for short term Trading .
BAJAJHLDNG IGL AUROPHARMA NMDC ICICIGI GAIL HINDALCO SBICARD HDFCLIFE BAJFINANCE PGHH EICHERMOT HEROMOTOCO BAJAJFINSV LT |