My Trading strategy for Nifty and Bank Nifty Futures trading on 31st Dec.,., 2020
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 14020 and 13870.
Buy if the candle closes above 14020 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 13870 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 31180.
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 31180 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
INDIACEM STARCEMENT BLISSGVS KANSAINER WOCKPHARMA SOBHA SWSOLAR HEIDELBERG TIMKEN EIDPARRY MMTC ORIENTREF |
Bearish Stocks as per my scanner
SWSOLAR GRANULES ESCORTS |
My List of Stocks to Watch for short term Trading .
MMTC// ULTRACEMCO// TECHM// JSWSTEEL// GODREJCP// |