How do I choose stocks for intraday trading?

[skrimon]

Intraday trading is one of the most followed trading practices to ensure an alternate source of income for beginners these days. But as I said many times, it’s not always profitable because it involves a higher risk factor than the other trading patterns.

It could give you sometime profit and some time loss as well. So as per my point of view, start doing intraday trading only when you have enough technical knowledge and experience but not till then.

Stock selection is the most important part of trading and day trading so choose your stock for day trading wisely. So here I am sharing some tips for stock selection:

Always choose less volatile stocks & liquid stocks for day trading. If you will choose high volatile stocks for intraday trading then it can easily trigger your stop-loss and give you a loss. Some stocks have good volumes & more liquidity and they can give faster profit than other stocks.

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After choosing the stock, the next step is to find out that either that stock is bullish or bearish, and for that, you have to check that stock’s last week’s movements.

If that stock is continuously bullish without consideration of market movement, I will always choose that stock for buying whenever I will find it near a day’s low or at lower levels.

For example, yesterday and from some days torn power was not performing with the market so it was the best buying opportunity for yesterday.

It was 297–298 yesterday and come up to 304–305, and the lot size of torn power is 3000 so you can easily make 12k-15k from that.

In the same way, if the stock is bearish you need to find out sell opportunities from that stock and sell that from the day’s high.

Yesterday my research analyst and trading advisor “EQWIRES RESEARCH ANALYST” has given me a trade, in which I earned 18000 profit in intraday trading.

My relationship manager from requires(Rachna) called me and told me to sell Manappuram when the market opened. 

As I am with them for a long period now and now I have full trust them, I immediately sold Manappuram at a given price by her and as usual, this trade was also a quick intraday trade and in 1st time it gives me 12000 and in the 2nd time, it gives me another 6000.

As you can see in the 1st picture I sold Manappuram at 9.18 and exited at 9.32 with the 12k profit and again I sold and made 6k profit less than 30 minutes.

Now I am going to share some tips related to choosing stocks:

Never buy falling stocks and especially when the stock has crossed its resistance level because it can trap and give you big losses.

Buy those stocks which are taking support level and not coming down with the market but rising with the market, so that you will get a good return in that stock in intraday trading.

Always apply a proper stop-loss in your every trade because in that way you can minimize your loss and maximize your profit, and you can also hold your position by trailing your stop-loss and modifying the target so that whenever big movement comes, you can generate a big profit.

Don’t trade in some stocks which has some recent news or if that stock has a quarterly result on the same day because that type of trading is completely gambling.

As we all know, these days some sector has negative news like the Banking sector, the auto sector, metal sector, and because of that, some stocks are not performing well even after the announcement of the 20lac crore package by our honorable Prime minister Mr. Narendra Modiji.

I hope I helped you in a proper manner and fulfilled your query. If you like this answer and other answers as well, please keep doing upvotes and share my answers so maximum people can get help from it and get benefits.

Thank You for Reading.