My Trading strategy for Nifty and Bank Nifty Futures trading on 12th, Jan., 2021
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 14515 and 14440.
Buy if the candle closes above 14515 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 14440 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 32180 and 31880.
Buy if the candle closes above 32180 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 31880 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.
My List of Stocks to Watch for short term Trading
GICRE COLPAL GODREJCP CESC TATAMOTORS TATACONSUM INFY WIPRO HCLTECH MARUTI DMART SANOFI |
Bullish Stocks as per my scanner LUPIN TATACONSUM NMDC GODREJCP BAJAJ-AUTO M M DRREDDY ACC HDFCAMC VOLTAS BHARTIARTL EICHERMOT ULTRACEMCO AMBUJACEM |
Bearish Stocks as per my scanner
GRANULES VENKEYS |