Are you daytrading Nifty? Here is something in this blog post that might help you. It is based on pure price action trading. Price action trading with Decision Points is what I follow for day trading, mainly the Nifty index. There is no need of any indicator to trade. All you need is decision points marked on the chart and ranges. I expect markets always trade in the ranges and I expect other traders to act at the trader's decision point. Day open, previous day close, previous day low, previous day high, big round numbers are some of the decision points.
One can read more about it at my blog, http://charttechnicals.blogspot.in/ and http://niftynirvana.blogspot.in/
I have already written in one of blog posts at my blog about the range bound movement that Nifty often goes into. It is actually very easy to expect the range bound movement. When?
A strong momentum drive into the close with no follow-through overnight provides an initial expectation of a range-bound environment. I feel we can expect range-bound movement at least in the morning session or for few hours initially, in the beginning of the day.
Read more, here.