There are two kinds of “no” here. It’s helpful to know them both and when to use them.
“Hindi” (hin-DEH) or just “‘di” (DEH) is purely the negative equivalent of the English no. It is used when there is nothing to be missed (this will be clearer in a moment.) So, if someone asks you if you like One Direction, you answer, “Hindi.” or “Hindi, po,” if it’s an older person or social superior (like a boss).
“Wala” means “all out” or “there is not any” or “absence of.” So, if someone asks you if you have some money, you answer, “Wala,” or “Wala, po.” If they asked if you had dinner tonight, you would also answer with wala rather than hindi, because there was an absence of dinner in your life. They may ask, “May loyalty card?” (Do you have a loyalty card?) You would answer “Wala”.