This is a concept which you can follow even if you don’t know markets. However, I would not recommend doing so. Atleast know some fundamentals.

This concept simply involves 1 technical factor – Relative Strength Index (RSI). Relative Strength Index combines the Price and Volume to gives us a signal if that particular instrument is Overbought or Oversold.

Whenever you load an RSI graph, it will usually show you for 14 days. However, the trick lies in the fact that we change the 14 days into 8 days with Oversold being less than 30 and Overbought being more than 70.

If you are Bullish, all you have to do it Buy near Oversold levels i.e. when graph hits 30 or below and Sell when graph hits 70 or above.

If you are Bearish, you Short near Overbought Levels and Buy near Oversold levels. Use a 15-minute chart.

Have a look below, it will be more clear.

Nifty