I am working in an office, and cannot afford to follow Nifty the whole day. This strategy worked wonders for me when it was profitable. Usually, I was in a trade by 10:05, but atleast on 2 occasions it was executed after 12 noon.
I hope someone refines this strategy, does some more backtesting than I did, and modifies it to be more profitable. (It would still be profitable, if i had a lesser brokerage than the ICICI rates).
The 0.6% SL many bad exits, but i just did not have the guts to execute without a SL, especially since I was trading multiple lots. I initially had also considered the 0.8% SL, but finally I think 0.6% was not a bad SL. But having no Stop Losses and just existing at the end of the day may have given better results. I have not backtested all the choices.