How to understand nifty trend for an intraday ??any suggestions ??
Best way to start is by using technical analysis. Suggest you to go through this module.
NIFTY DAY Trading APPROACH 1:
SIMPLE and PRACTICAL with NO Rocket SCIENCE.
Dedication and Perseverance Required : 2 / 5.
STEP 1: Identify if Last Day’s NIFTY closing is ABOVE or BELOW the JNSAR Line.
IF ABOVE = Take only LONG trades for Intraday.
IF BELOW = Take only SHORT trades for Intraday.
IF NIFTY Closed ABOVE JNSAR on STEP 1 = Wait for NIFTY to move considerably below the Power of Control on Volume Profile during Intraday and take LONGS on this Fall.
IF NIFTY Closed BELOW JNSAR on STEP 1 = Wait for NIFTY to move considerably above the Power of Control on Volume Profile during Intraday and take SHORTS on this Rise.
SCREENSHOT for JNSAR Filter on DAILY CANDLES:
SCREENSHOT for Intraday VOLUME PROFILE _ Power of Control When NIFTY above JNSAR on STEP 1.
“FOR any given strategy to work, you Need to follow it over a Reasonable Period of Time Religiously with Daily Discipline…”
DISCLAIMER 1) Trading Involves Substantial RISK of LOSS and not for everyone, Past Performance of the above Trading SETUP are not a guarantee for Future Performance.