My Trading strategy for Nifty and Bank Nifty Futures trading on 2nd Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11645 and 11535.
Buy if the candle closes above 11645 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 11535 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 24280 and 23560.
Buy if the candle closes above 24280 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 23560 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
TVSMOTOR ADANIPORTS GODREJPROP CDSL BPCL AMARAJABAT TATASTEEL CONCOR CROMPTON APOLLOHOSP CADILAHC TCS DIVISLAB GRASIM RAMCOCEM WIPRO HDFCLIFE GRANULES |
Bearish Stocks as per my scanner
AARTIDRUGS BAJAJ-AUTO BHARATFORG BIOCON BSOFT COFORGE CUMMINSIND GLENMARK HCLTECH HINDZINC ICICIPRULI LICHSGFIN MINDTREE PVR RELIANCE SBICARD STAR SUNPHARMA TORNTPHARM UBL |
My List of Stocks to Watch for short term Trading .
BLUEDART CHOLAFIN ADANIGAS TVSMOTOR ICRA ADANIPORTS ADANIGREEN VAIBHAVGBL IDEA HINDPETRO GODREJPROP CDSL BPCL GUJALKALI ADANIENT KARURVYSYA DHANUKA TORNTPOWER |