NIFTY TRADING PLAN -2

Earlier also I have told in my trading career I have come across, many charting softwares and sites, costly or non-costly. But I again repeat even a novice can successfully trade Nifty future using only free Yahoo Chart. For that purpose I have attached an auto refreshing Nifty chart from Yahoo Finance in this blog at Live Niftysection. An auto buy sell decision is attached with the Nifty chart in the blog.

In my last post on Nifty Yahoo Chart I discussed on EMA crossover technology. This time I will discuss Stochastic-RSI Technology.

Let me tell you how have I made 66 points in Nifty trading today using the Nifty Yahoo Chart? Rules are again simple: simply follow the auto signals. Buy Nifty when stochastics crosses blue line over red and confirm that a full white candle is formed above the 21 EMA, the red line. Short Nifty when stochastics crosses red line over blue and confirm that a full blue candle is formed below the 21 EMA, the red line. Exit criteria RSI reaching overbought or oversold zone. Also, sometimes the auto signals will tell not to short at all, or sometimes it will tell not to buy at all. My today's trades are represented graphically. Your comments are welcome in this matter to take this discussion to a further height.