Some traders find day-trading Nifty much easier than trading stocks. Successful Nifty traders follow a robust trading system when trading Nifty.
If you are a beginner to Nifty day-trading, here are some powerful tips to help your NIFTY daytrading stress-free.
Start the trading day by analyzing the Nifty Daily Trend bias.
Use a Daily Trend following system like the JNSAR indicator to achieve this.
If the Nifty is trading above the JNSAR line have a bullish bias for the day and vice versa.
Keep track of the Daily NIFTY JNSAR status here : https://in.tradingview.com/chart/cFFK937R
Deciding on the NIFTY Intraday positioning.
It is important to follow an emotion free trading system for intraday.
If JNSAR is bullish wait for the below Intraday setups to trigger a bullish setup and vice-versa.
If you are having a bullish bias for the day, wait for the Nifty to consolidate to the downside in the morning session. Then position your trades at the support where you can comfortably place a stop loss with the least risk. Vice-versa for a bearish setup.
If you have no Intraday trading system on your own here are 2 free trading strategies you can adopt for your Nifty intraday Trading.
Strategy 1 is based on 15mins heikin-ashi candles and 14ema trading system.
Continue to have a bullish view when green heikin-ashi candles close above the 14ema. Vice-versa setup for bearish view.
Strategy 2 is based on Intraday Fibonacci levels of Nifty 50.
A BULLISH View is maintained when the Nifty spot moves above the First Fibonacci level on the Forward ( Long ) side.
A BEARISH View is triggered when the Nifty spot falls below the first Fibonacci level on the Backward ( Short ) side.
Track this Live intraday setup for Nifty Index Fibonacci Intraday Levels on the FataFat Stock Screener / NIFTY TAB here: https://www.fatafatstockscreener.in/
Disclaimer: Trading involves risk of loss and may not be suitable for you. Past performance is no guarantee or reliable indication of future results. This article is of the nature for general information only and must not in any way be construed or relied upon as legal, financial or professional advice.