Chart is purely on volume of Nifty took from nseindia.com site on click of Nifty chart.
First level of pivot is found @ the time of opening 9:15am. Consider the close price @9:15am is 5239
Next consider the volume spikes as Next level of pivot points.
Analyse the movement using the pivot point
Consider the following scenario's
Volume - Nifty
1)3398195 - 5239
2)1546322 - 5218
3)966509 - 5186
Today 1st point is @ 5239 and Nifty went below that point. And 2nd point is @ 5218 and again nifty is gng down - bearish sentiment and finally stoped @ 5178
Next point is @ 5186 and nifty moving upside with volume spikes and finally closed @ 5310. High volume and price moving up is bull phase, that is the reason i gave a buy call @ 5274 and it made high of 5315.
But sometimes it will be difficult to find the right direction. you may hit SL with few points. Last 4 trading sessions i showed 500 points of Nifty profit using this. If you carefully trade with this strategy you may get minimum of 200 points in a week.
No MACD,RSI,Bollinger signals are used here and this is only for intraday. And finally don't ask me questions :)