My Trading strategy for Nifty and Bank Nifty Futures trading on 4th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11845 and 11770.
Buy if the candle closes above 11845 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 11770 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 25735 and 25280.
Buy if the candle closes above 25735 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 25280 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
ICICIBANK HDFC AXISBANK APOLLOHOSP ADANIENT JUSTDIAL GRASIM ULTRACEMCO ACC ASIANPAINT |
Bearish Stocks as per my scanner
BRITANNIA RELIANCE AARTIDRUGS STAR UPL GEPIL |
My List of Stocks to Watch for short term Trading .
ICICIBANK HDFC RAMCOCEM INDUSINDBK AXISBANK SRTRANSFIN BERGEPAINT |