Nifty future is one of the most traded contracts on the National stock exchange (NSE), many traders follows day trading method in their trading strategy. Markets are mostly unpredictable as per their nature, but using technical analysis a trader can maximize his chances of market prediction. These are simply based upon what they say combination of technical analysis and the fundamental analysis. When it comes to intraday trading strategy one must simply focus on the weekly chart i.e. larger time frame chart, as rate of accuracy is higher. Then using that level (levels on weekly chart) you can look at intraday chart and then take the intraday position on nifty future. Remember this strategy uses fixed 1:1 risk reward ratio, as intraday volatility is unpredicted hence this RRR is 1:1 instead of 1:2. More over we would not prefer to take any trades on the days of news events like inflation data release, IIP numbers, Interest rates decision, Fuel price decision and GDP number release, market generally react sharply to these news.
About Bhaveek PatelBhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.
what are the best indicaters and their parameters for day trading in nifty future.
Hi Akshaya, indicator you are looking for is slow stochastic for nifty future with parameters as (15,5,5).
Thank you.
Respected sir,
What perameter of RSI use in Equity & F&O intra day trade
Please suggest me .
Thanks!
It’s hard to come by educated people for this topic, but you seem
like you know what you’re talking about! Thanks
Appreciate your article in explaining day trades, after few years of experience I have stopped using indicators and identified an profitable technique which gives best results on day trades most of the times.
I identify the volume with different technique so have you tested trade without indicator??