@sritrader You cannot look at Nifty and take positions in a stock. You have to look at the stock price and understand the price movement before you enter into a position, and use Nifty as a point of comparison only.
Understand the overall price action of the scrip you’re trading in, wait for the stock to pan out during the first 1 hour of the markets everyday, see where buyers and sellers are coming in, correlate this to the movement of the previous trading sessions, size your entry quantity in relation to your account capital, use indicators to facilitate your trade entry and exit, maintain stops, exit at your desired target/monetary gain, enter a trade again only if you notice a sure opportunity.
When it comes to indicators 
VWAP for intraday trend analysis, RSI/Stochastic oscillator for overbought/oversold regions, ema crossover/reversal patterns for entry and exit, pivots for support/resistance, Bollinger bands for volatility But do note that you are the greatest indicator for your trades because the above indicators are only facilitators for your trade while you are the indicator that determines how much quantity to trade, your monetary target for the day and also when to stop.
But you have to note that indicators only facilitate your trade, they are not the decision makers. You are the only decision-maker here and you have to spend time getting a grip of the overall stock scenario to have a more holistic trading experience.