The Nifty is the most volatile tradable index on Nse since it is favourite for the intraday and positional traders. In technical analysis rules and covenants also it is taught that when trading or taking position in any stock , we need to find the direction in which the nifty is moving , so that the trade is entered in that same direction. This will give rise to a high probability trade.
The nifty live charts or any intraday software can tell us about the direction of the nifty. The best trend finding strategy can be by checking the direction of any particular moving average, or by drawing a diagonal trend line. The other way is to see if it is making rising Low and Highs or falling.
These are little complex to note during live intraday markets. So the better solution is to make your trading strategy more mechanical so that, the buy sell signals are generated on the live nifty charts using the real time data. These are based on some sound formulae and some arithmetic calculations. So when the intraday software finds that a particular stock meets those parameters, then it picked on the momentum stock tips scanner. These can then be quickly traded with the other risk management principles in place like booking target levels, stop loss and so on. This way the trader is greatly assisted in making his decisions.
Below you will find a image of the charts and the momentum scanner which generated such results.
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