My Trading strategy for Nifty and Bank Nifty Futures trading on 26th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12960 and 12840.
Buy if the candle closes above 12960 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 12840 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 29520 and 29140.
Buy if the candle closes above 29520 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 29140 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
RALLIS AXISBANK VOLTAS ICICIBANK DMART ESCORTS JUSTDIAL GRASIM HAVELLS SIEMENS MCDOWELL-N |
Bearish Stocks as per my scanner
UPL LUPIN |
My List of Stocks to Watch for short term Trading .
ONGC BANKBARODA UNIONBANK CANBK OIL PNB EMAMILTD TATAPOWER MANAPPURAM IBULHSGFIN HDFCAMC BANKINDIA SBILIFE HDFCLIFE |