My Trading strategy for Nifty and Bank Nifty Futures trading on 6th Nov.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 12155 and 12063.
Buy if the candle closes above 12155 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 12063 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 26365 and 25980.
Buy if the candle closes above 26365 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 25980 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
ASIANPAINT GRASIM AXISBANK ULTRACEMCO NIFTYBEES KAJARIACER HDFC |
Bearish Stocks as per my scanner
HAL GEPIL UPL AARTIDRUGS RELIANCE LAURUSLABS BRITANNIA BIOCON HEROMOTOCO |
My List of Stocks to Watch for short term Trading .
SBIN SAIL HINDPETRO NATIONALUM NMDC PVR SUNTV MUTHOOTFIN GODREJPROP CARERATING SRF BRIGADE |