Best strategy for intraday nifty trading?
There are no best strategies in the trading world. Each trader follows a rule which suits him/her. Nifty future moves an average of 30 - 40 up and down in a day. Try to find a strategy which helps you identifying the points where the above said will happen. Always use physical stop loss. I am sure you will you own good strategy soon.
Do you know how stupid Sachin Tendulkar would feel if someone asked him which is the best cricket shot? The one that never gets you out and always scores runs.
Your questions is like that. There’s no strategy that is best. It all depends on market conditions, your risk appetite, capital at hand and gazillion other factors.
First find out the major trend using 60 minute chart. Plot 20 and 50 EMA. If price is up from the averages then trend is up and if price below then trend down. Once you find out the trend then open 5 minute chart and look for low risk entries using rsi or stochastics according to trend.