My Trading strategy for Nifty and Bank Nifty Futures trading on 5th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 11945 and 11840.
Buy if the candle closes above 11945 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 11840 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 25910 and 25490.
Buy if the candle closes above 25910 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 25490 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
CARERATING CROMPTON JUSTDIAL ACC NIFTYBEES ASIANPAINT PIDILITIND GRASIM ICICIBANK AXISBANK HDFC TANLA |
Bearish Stocks as per my scanner
GEPIL SUVENPHAR RELIANCE COFORGE BRITANNIA HEROMOTOCO BIOCON BSE STAR UPL LAURUSLABS |
My List of Stocks to Watch for short term Trading .
INDUSINDBK / SRTRANSFIN / SIEMENS / RAMCOCEM / CARERATING / HONAUT/ EQUITAS |