My Trading strategy for Nifty and Bank Nifty Futures trading on 13th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12735 and 12630.
Buy if the candle closes above 12735 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 12630 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 28540 and 28080.
Buy if the candle closes above 28540 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 28080 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
JUSTDIAL GRASIM PIDILITIND ACC VOLTAS |
Bearish Stocks as per my scanner
AARTIDRUGS SHILPAMED IPCALAB COROMANDEL RELIANCE UPL |
My List of Stocks to Watch for short term Trading .
IBREALEST ASTERDM GALAXYSURF UFLEX IBULHSGFIN JKTYRE ASHOKA BAJAJELEC PGHL BIRLACORPN ADVENZYMES |