Many times banknifty is so volatile that even if you are in right direction you tend to loose a considerable amount of gain if you wait for indicates to respond the reversal of momentum during intraday trades. Is there any other method which will give early indication of reversal.
i would use two indicators, EMA crossover and bollinger bands to sense the trend reversal. I hope you already used with these indicators
RSI is also a good Indicator (70-30), it will show you when to take and exit a position.