My Trading strategy for Nifty and Bank Nifty Futures trading on 22nd Dec.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 13475 and 13145.
Buy if the candle closes above 13475 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 13145 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 29912 and 29220.
Buy if the candle closes above 29912 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 29220 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
MAHSEAMLES DMART EMAMILTD INTELLECT MFSL ASTRAL CHAMBLFERT SUVENPHAR HINDUNILVR BRIGADE KAJARIACER KOTAKBANK |
Bearish Stocks as per my scanner
CSBBANK AUROPHARMA BALKRISIND ACC MCDOWELL-N RAMCOCEM ESCORTS INDIGO RBLBANK |
My List of Stocks to Watch for short term Trading .
GODREJCP PGHH LT CADILAHC AUROPHARMA HDFCAMC HINDZINC RELIANCE DMART SIEMENS LUPIN BAJAJHLDNG IOC INDIGO LTI |