NSE home page chart

Look at nifty chart on nse’s home page. It is updated every two minutes. It is a line chart. It is automatically updated. It is not a very sound tool for a serious trader because it puts you two minutes behind by default. But for a learner this is the best tool. There is no need to pay any hefty fee to get charts. Just look at the nifty home page chart. For a short term trader the most important thing is momentum. Once the momentum is identified a trader can trade in the direction. There are ways to find that momentum. Mostly people go to indicators. That is useful at a later stage. For someone who is just initiating into the market the nifty home page chart does the job. Lets see how? To know the momentum one has to be as close to the price as possible. Nifty home page chart has the base line in blue. This blue line is the previous close price. It is always there. Then the current price is formed on the chart. Green line for positive move and red line for negative move. Clearly visible and totally fuss-free. One doesn’t need too much data to find out intraday momentum. Nifty gives you just enough. Yesterday’s price and today’s price comparison is the best way to start the journey. Often we look out for the best charting software and such high tech things thinking that best tools means the best results. The truth is that the results are dependent on you , not on the tools. Rather than focussing on the tools you should focus on what is needed for you to make the right decision. At the end of the day always save that chart in your system. Once you have a collection of some 30 plus charts then run them in a slide and you will be able to find the common thread. Without paying any fee you will be seeing the best example of how line charts are used to spot momentum. Keep the previous close in mind. Nifty home page chart always gives you that base line. With time you will be able to spot relations between previous close and current price and making a final decision on momentum based on that only is a possibility too. Complex things are not necessarily the best things. Easy does it too. Start saving nifty home page chart. Save atleast charts of 30 days . review them afterwards. This is a hidden treasure. Specially for the intraday traders.