The Strike probability tool on the FataFat Stock Screener can be used by daytraders as a reference data point when deciding the intraday directional bias of the NIFTY50 index.
For example, in the above screenshot the tool shows “The current probability of Nifty index is towards spot value of 11000”.
This means the index is likely to close near the 11000 strike based on the current market condition.
Points to note:
- The calculated results are not to be considered as trade signals by itself, but as an extra datapoint for filtering your own trade decision.
- The calculated strike value could change throughout the day considering the different intraday sentiment the market goes through.