My Trading strategy for Nifty and Bank Nifty Futures trading on 7th, Jan., 2021
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 14250 and 14160.
Buy if the candle closes above 14250 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 14160 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 32110 and 31650.
Buy if the candle closes above 32110 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 31650 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
TANLA GODREJPROP VOLTAS ADANITRANS ICICIBANK CROMPTON JSWSTEEL KOTAKBANK SUNPHARMA INDIACEM |
Bearish Stocks as per my scanner
GRANULES AWHCL ESCORTS VENKEYS |
My List of Stocks to Watch for short term Trading .
SRTRANSFIN HINDZINC SBICARD EMAMILTD RBLBANK VGUARD NAVINFLUOR DALBHARAT CONCOR POWERGRID IDFCFIRSTB FORTIS VOLTAS ADANITRANS GAIL UBL BATAINDIA TORNTPOWER POLYCAB BHARTIARTL MPHASIS PRESTIGE |