My Trading strategy for Nifty and Bank Nifty Futures trading on 30th Dec.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 13955 and 13865.
Buy if the candle closes above 13955 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 13865 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 31425 and 31220.
Buy if the candle closes above 31425 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 31220 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
TECHNOE INDUSINDBK IGL WOCKPHARMA CROMPTON MGL ICICIBANK ADANIGAS APLAPOLLO AMARAJABAT SUNPHARMA |
Bearish Stocks as per my scanner
RAMCOCEM SWSOLAR GRANULES ESCORTS |
My List of Stocks to Watch for short term Trading .
MMTC NBVENTURES QUESS KTKBANK TAKE IFBIND GPPL VINATIORGA |