My Trading strategy for Nifty and Bank Nifty Futures trading on 16th Dec.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 13610 and 13530.
Buy if the candle closes above 13610 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 13530 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 30780 and 30480.
Buy if the candle closes above 30780 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 30480 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
DBL VOLTAS JSWSTEEL BHARATFORG HDFC CHOLAFIN HDFCBANK Mahindra and Mahindra DIVISLAB CENTURYTEX MFSL BHARTIARTL |
Bearish Stocks as per my scanner
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My List of Stocks to Watch for short term Trading .
HAVELLS\\ BAJFINANCE\\ LICHSGFIN\\ SUNTV\\ NTPC |