What I know at 7:22 AM
The American markets closed higher on Friday.
Asia is slightly up. The SGX Nifty is almost flat, at 3475. There is no news flow as of now that will become the central theme of today's trading.
The trend is UP. Above 3500, there is another breakout.
But Nifty could simply drift throughout the day. The 15 minute rule may be appropriate if prices breakout after a period of consolidation. A second method for tracking today's market is to use a momentum indicator on five minute charts. Take mometum buy signals near the lowest ranges of the oscillator ("oversold") and exit near the high ranges ("overbought").
The two suggestions will work only for traders who follow these ideas regularly. They get practice and understand the nuances of the market place. If you do not have years of practice, then get that practice, by trading in smallest possible volumes, and, trading with discipline day after day.