15 minute chart of Equity Bank.

The 12345 (1) pattern shown is called an impulse wave. Impulse wave show the direction of the main trend.
I anticipate Equity to rise to either 56.50 or 58 bob then fall.

Wave 1 is at 61.00
Wave 2 is at 62.00
Wave 3 is at 53.50
Wave 4 is at 56.00
Wave 5 is at 50.00

Size of waves:
Wave 1 = (63-61) = 2.00
Wave 2 = (62-61) = 1.00
Wave 3 = (62-53.50)=8.50
Wave 4 = (56-53.50)=2.50
Wave 5 = (56-50) = 6.00

Wave (1) = (63-50) = 13.00

Golden ratio relationships:

Wave 2 retraced Fibonacci 50% of wave 1.

Wave 3 = Fibonacci 4.236 X Wave 1.

Wave (2) will end at either 56.50 ( 50% retracement of wave (1)) or at 58 (being 61.8% retracement of wave (1)).

All in all, Equity should not return to 63/- at all.

I wish we could day trade shares on NSE, with leverage, as they do in the West.

The index is what matters most. It suggests that there is a big bear coming. So what would be the point of trying to catch market tops in individual stocks? Especially coz you cannot do day-trading (with margin) in NSE.

Do short term trading..its very safe.

When a stock breaks up you buy and sell as soon as momentum starts easing

That is safe,very safe..otherwise your money stay idle (by not trading or buying laggards)