My Trading strategy for Nifty and Bank Nifty Futures trading on 14th, Jan., 2021
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 14655 and 14545.
Buy if the candle closes above 14655 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 14545 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 32735 and 32485.
Buy if the candle closes above 32735 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 32485 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
M and M BHARTIARTL BPCL IOC SBIN CANBANK ADANIPORTS |
Bullish Stocks as per my scanner HUDCO BANKBARODA M AND M SBIN DLF CANBK TATACHEM BHEL CESC IOC INDHOTEL BPCL BHARTIARTL IDEA BHARATFORG |
Bearish Stocks as per my scanner
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