Dear biyas,I can understand that u don't have past intraday data,u r working on the real time data of just the day of trading.
Now in that case,u will be left alone on the principles of statistics,which needs a vast amount of data to reach a decision,like taking a mean or whatever.
My decision on ur question is NO.Don't go for it.U have to opt for the past data and for that a professional software is a must.
I CAN'T STRESS MORE ON THIS PAST INTRADAY HISTORY OF 150 DAYS.
Please go for it or otherwise ur problem of not getting signals for days will remain.
U have to make investments for ur professional life and this is the time.
Take around 16,000/- rupees and buy Amibroker and apply for a data converter,like 'true data india'(don't have experience on their service,so may be wrong about recommending them....no advertising).
Please excuse me if I have talked overenthusiastically.
Regards.