My Trading strategy for Nifty and Bank Nifty Futures trading on 20th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12865 and 12750.
Buy if the candle closes above 12865 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 12750 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 29220 and 28820.
Buy if the candle closes above 29220 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 28820 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
POLYCAB AMARAJABAT VOLTAS ACC JUSTDIAL HAVELLS ESCORTS AUBANK GRASIM |
Bearish Stocks as per my scanner
LUPIN LAURUSLABS UPL |
My List of Stocks to Watch for short term Trading .
TATACHEM BEL POLYCAB BATAINDIA BHEL FRETAIL POWERGRID BAJAJHLDNG PFIZER |