My Trading strategy for Nifty and Bank Nifty Futures trading on 19th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12975 and 12885.
Buy if the candle closes above 12975 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 12885 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 29820 and 29250.
Buy if the candle closes above 29820 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 29250 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
SRTRANSFIN BAJAJFINSV CHOLAFIN BAJFINANCE INDIGO GODREJPROP EICHERMOT TRENT BANDHANBNK IGL ADANIGREEN BALKRISIND KOTAKBANK PEL SIEMENS GRANULES AXISBANK |
Bearish Stocks as per my scanner
HINDUNILVR HEROMOTOCO TCS DABUR INFY TECHM GLENMARK UPL RELIANCE BRITANNIA HCLTECH |
My List of Stocks to Watch for short term Trading .
ADANIGAS M&M TATAMOTORS M&MFIN SRTRANSFIN FEDERALBNK LT L&TFH GMRINFRA TATAPOWER ADANITRANS EDELWEISS MOTHERSUMI PRESTIGE GUJGASLTD BANKBARODA RBLBANK MGL BATAINDIA VBL PNB NAM-INDIA ADANIPORTS GODREJIND BANKINDIA |