My Trading strategy for Nifty and Bank Nifty Futures trading on 23rd Dec.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 13510 and 13365.
Buy if the candle closes above 13510 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 13365 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 29760 and 29380.
Buy if the candle closes above 29760 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 29380 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
APTECHT ITDC ADANIENT ADANIGAS IGL OLECTRA BANDHANBNK ADANIPORTS HDFCAMC SUVENPHAR TATACHEM NAUKRI MGL JUSTDIAL SUNPHARMA BIOCON DIVISLAB TATACONSUM PIDILITIND |
Bearish Stocks as per my scanner
TORNTPOWER RBLBANK MCDOWELL-N ACC RAMCOCEM ESCORTS VIPIND KEC GNFC PVR |
My List of Stocks to Watch for short term Trading .
BSOFT KPITTECH ITDC SPANDANA MINDTREE TATAELXSI IGL LTI |