My Trading strategy for Nifty and Bank Nifty Futures trading on 27th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 13090 and 12945.
Buy if the candle closes above 13090 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 12945 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 29850 and 29480.
Buy if the candle closes above 29850 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 29480 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
BHARATFORG EVEREADY HDFC GODREJPROP AXISBANK VOLTAS POLYCAB HDFCBANK ACC TITAN ICICIPRULI MCDOWELL-N LICHSGFIN ICICIBANK NIITLTD |
Bearish Stocks as per my scanner
LUPIN UPL |
My List of Stocks to Watch for short term Trading .
ITDC VAKRANGEE SIEMENS SFL SAIL VMART SUDARSCHEM SIS GSFC ICICIGI DCMSHRIRAM |