My Trading strategy for Nifty and Bank Nifty Futures trading on 1st, Jan., 2021
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 14060 and 13950.
Buy if the candle closes above 14060 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 13950 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 31440 and 31190.
Buy if the candle closes above 31440 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 31190 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
SILINV CENTURYTEX VIPIND GODREJPROP OBEROIRLTY IBULHSGFIN UBL SUNPHARMA ICICIBANK DIVISLAB SRTRANSFIN VOLTAS CHOLAFIN CUMMINSIND |
Bearish Stocks as per my scanner
GRANULES ESCORTS |
My List of Stocks to Watch for short term Trading .
RAJESHEXPO BEL SYNGENE AUROPHARMA NATCOPHARM DMART SAIL OIL NTPC ABFRL ADANIGREEN RAMCOCEM JUBLFOOD IDEA EDELWEISS MOTHERSUMI POWERGRID |