My Trading strategy for Nifty and Bank Nifty Futures trading on 4th Dec.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 13220 and 13150.
Buy if the candle closes above 13220 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 13150 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 29910 and 29430.
Buy if the candle closes above 29910 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 29430 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
BHARATFORG INDIGO TITAN TATACONSUM HDFCLIFE IGL ULTRACEMCO |
Bearish Stocks as per my scanner
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My List of Stocks to Watch for short term Trading .
MARUTI BHARATFORG PEL RECLTD NTPC COALINDIA CADILAHC TATACONSUM ICICIPRULI TITAN MINDTREE IOC DLF JSWSTEEL |