My Trading strategy for Nifty and Bank Nifty Futures trading on 4th, Jan., 2021
Rules:
Chart : candlestick 5m chart.
Indicator : Stocasticrsi ( values 60,30 )
NIFTY
Draw Two horizontal lines on the 5m candle stick chart, at 14075 and 14030.
Buy if the candle closes above 14075 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 14030 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 31250.
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 31250 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
SIYSIL LICHSGFIN MFSL SRTRANSFIN HEG CUMMINSIND IGL VOLTAS SUNPHARMA GRASIM INDUSINDBK TATACHEM VIPIND ADANIGAS GODREJPROP |
Bearish Stocks as per my scanner
BIOFILCHEM ESCORTS GRANULES PRESTIGE |
My List of Stocks to Watch for short term Trading .
M and M / HDFCAMC/ SIEMENS / LALPATHLAB / ESCORTS / AARIIND / LICHSGFIN/ INDIAMART/ TRIDENT/ TAKE/ GSFC/ CHOLAFIN/ CENTURYPLY/ BEL/ SUMICHEM/ |