My Trading strategy for Nifty and Bank Nifty Futures trading on 9th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12280 and 12145.
Buy if the candle closes above 12280 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 12145 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 26845 and 26260.
Buy if the candle closes above 26845 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 26260 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
HDFC ICICIBANK AXISBANK |
Bearish Stocks as per my scanner
RELIANCE SUVENPHAR CHEMCON UPL BIOCON AARTIDRUGS HEROMOTOCO LAURUSLABS |
My List of Stocks to Watch for short term Trading .
BAJAJ-AUTO COROMANDEL FEDERALBNK GUJGASLTD IIFL IOLCP NAM-INDIA NMDC PEL SAIL SUMICHEM TATACHEM |