To trade in futures which will be better future chart or spot chart
I prefer Nifty spot because there is around 10 year more data to work with. NSE futures started in 2000 only. Now if we search NSE there you are likely to find research papers that talk about the lead lag relationships between spot and futures. Inference could be bit conflicting though which could prevent you from drawing any solid inferences.
So my take is dump the lead lag and March forward with spot as it is the underlying. If Nifty has to fall off the cliff it will. It doesn’t matter if it’s few ms delayed or ahead for the ordinary guy on the street.