My Trading strategy for Nifty and Bank Nifty Futures trading on 3rd Dec.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 13180 and 13080.
Buy if the candle closes above 13180 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 13080 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 29780 and 29180.
Buy if the candle closes above 29780 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 29180 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
TITAN ESCORTS INDIGO TATACONSUM HAVELLS BALKRISIND VOLTAS JKLAKSHMI JUSTDIAL AXISBANK GODREJPROP DIVISLAB EICHERMOT NAUKRI |
Bearish Stocks as per my scanner
COLPAL GLENMARK HINDUNILVR JUSTDIAL MUTHOOTFIN PIDILITIND SBICARD TRENT |
My List of Stocks to Watch for short term Trading .
ONGC NMDC TITAN JSWSTEEL TATACONSUM GODREJCP SUNPHARMA |