A number of nanofluids have been prepared to study the effect of lubrication properties of nanofluids on stainless steels taking Kaolin and Boron Nitride (BN) as the lubricant particles and Sodium Dodecyl Sulfate (SDS), Cetyl Trimethyl Ammonium Bromide (CTAB), Sodium Hexa Meta Phosphate (SHMP) as dispersants in the same liquid medium i.e. water. A pin on disc tribometer is being used to access the tribological behaviour of the prepared nanofluids. The particle size of these particle dispersions are examined with a nanoparticle size analyzer. It has been found that the use of dispersants significantly control the particle size and tribological behavior of the nanofluids as for Boron Nitride particle with Sodium Dodecyl Sulfate (SDS) as dispersant has got a very low value of coefficient of friction being equal to 0.142 while without dispersant the value is 0.498. Similarly, in case of Kaolin water with SDS as dispersant the value of coefficient of friction obtained is 0.161 and without dispersant it is 0.333. Sodium Dodecyl Sulfate (SDS) as dispersant has resulted a very low coefficient of friction compared to other dispersants tested even though it doesn’t always assure a least particle size. The role of SDS in yielding the lowest friction has pursued significant attention for further investigation.