My Trading strategy for Nifty and Bank Nifty Futures trading on 8th, Jan., 2021
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 14260 and 14175.
Buy if the candle closes above 14260 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 14175 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 32310 and 32030.
Buy if the candle closes above 32310 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 32030 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
SUNTV ADANIENT FEDERALBNK NMDC BHARTIARTL ADANIPORTS AXISBANK UBL RBLBANK AMARAJABAT |
Bearish Stocks as per my scanner
GRANULES AWHCL ESCORTS VENKEYS |
My List of Stocks to Watch for short term Trading .
BHARATFORG IDFCFIRSTB MCDOWELL-N GODREJAGRO TVSMOTOR VGUARD AJANTPHARM GODREJIND RAMCOCEM LALPATHLAB BOSCHLTD ADANIGREEN BHARTIARTL |