Last Updated on Nov 18, 2024 by Anjali Chourasiya
Intraday trading, the practice of buying and selling stocks within the same trading day, can be a lucrative strategy for experienced traders who are able to navigate the inherent risks and challenges. The key to successful intraday trading lies in identifying the right stocks that have the potential to deliver short-term gains during the trading session.
In this blog, let’s explore the best intraday stocks for today, along with intraday stocks with good fundamentals, factors to consider before investing in them, benefits, risks, and more.
Table of Contents
What is Intraday Trading?
Intraday trading refers to the practice of buying and selling stocks within the same trading day. This means that all positions are opened and closed during the market’s operating hours, avoiding any overnight exposure. The primary objective of intraday trading is to profit from short-term price movements that occur throughout the trading session. However, intraday trading also carries significant risks and challenges that traders must be aware of and prepared to manage effectively.
Best Intraday Stocks for Today (NSE)
| Name | Sub-Sector | Market Cap (Rs. in cr.) | Close Price (Rs.) | % Price above 1M SMA | RSI Exponential – 14D | MACD Line 1 – Trend Indicator | ADX Rating – Trend Strength | PE Ratio |
| Marsons Ltd | Heavy Electrical Equipments | 5,286.91 | 307.20 | 8.31 | 55.20 | 16.71 | 43.43 | 8527.28 |
| Prudent Corporate Advisory Services Ltd | Asset Management | 12,344.57 | 2,981.30 | 7.07 | 55.81 | 132.21 | 45.69 | 88.96 |
| Poly Medicure Ltd | Health Care Equipment & Supplies | 28,178.68 | 2,781.00 | 5.01 | 53.45 | 124.95 | 57.52 | 109.11 |
| Maharashtra Seamless Ltd | Building Products – Pipes | 8,514.31 | 635.40 | 3.77 | 55.61 | 4.67 | 42.33 | 8.95 |
| Amber Enterprises India Ltd | Home Electronics & Appliances | 20,786.11 | 6,154.05 | 3.44 | 56.88 | 295.80 | 56.51 | 156.42 |
| Orient Electric Ltd | Home Electronics & Appliances | 5,176.26 | 242.60 | 3.03 | 54.97 | 0.60 | 40.78 | 68.77 |
| Shilchar Technologies Ltd | Electronic Equipments | 5,675.52 | 7,441.55 | 2.12 | 52.85 | 370.02 | 43.02 | 61.77 |
| RedTape | Retail – Apparel | 12,917.73 | 934.70 | 1.56 | 55.83 | 34.27 | 50.62 | 73.30 |
| SBI Nifty 50 ETF | Equity | 8,375.51 | 255.36 | 0.89 | 59.79 | 2.00 | 75.67 | – |
| Orient Cement Ltd | Cement | 6,893.83 | 336.50 | 0.10 | 47.86 | 8.74 | 41.81 | 39.42 |
Note: The information is dated 8th November 2024. We have listed the best stocks for intraday trading from Tickertape’s Stock Screener based on a Pro screen called. Momentum Monsters
Intraday Stocks with Good Fundamentals
| Name | Sub-Sector | Market Cap (Rs. in cr.) | Close Price (Rs.) | PE Ratio | Beta | Fundamental Score |
| Indusind Bank Ltd | Private Banks | 82,093.07 | 1,053.80 | 9.14 | 2.38 | 7.25 |
| Intellect Design Arena Ltd | Software Services | 10,431.20 | 754.50 | 32.48 | 2.23 | 8.15 |
| Adani Total Gas Ltd | Gas Distribution | 78,372.47 | 712.60 | 117.41 | 2.21 | 7.42 |
| Saregama India Ltd | Movies & TV Serials | 9,508.70 | 494.35 | 48.13 | 1.95 | 10.18 |
| Balaji Amines Ltd | Specialty Chemicals | 6,720.29 | 2,074.10 | 32.80 | 1.92 | 8.55 |
| KPIT Technologies Ltd | IT Services & Consulting | 38,615.70 | 1,422.35 | 64.95 | 1.75 | 7.64 |
| Aditya Birla Capital Ltd | Diversified Financials | 52,395.46 | 201.11 | 15.71 | 1.70 | 9.93 |
| Manappuram Finance Ltd | Consumer Finance | 12,727.84 | 150.37 | 5.82 | 1.67 | 7.98 |
| Indian Bank | Public Banks | 75,564.68 | 561.00 | 8.98 | 1.66 | 7.04 |
| Suven Pharmaceuticals Ltd | Pharmaceuticals | 32,780.33 | 1,287.70 | 109.17 | 1.66 | 8.86 |
Note: The information is dated 8th November 2024. We have listed the best stocks for intraday trading from Tickertape’s Stock Screener based on the following parameters:
- Stock Universe – Nifty 500
- Beta – Set to High – Sorted from Highest to Lowest
- Fundamental Score – Set to High
Beta stocks carry the high risk but also offer higher return potential. Higher the beta, higher are the chances of the price of stocks to fluctuate in a single trading session.
Whereas, fundamental score ranks the stock vs all others in the sector, based on different fundamental criteria.
Note that these stocks are in no order of preference. Please note that these stock selection criteria and the stocks are provided for informational purposes only; it is essential to conduct your own research.
🚀 Pro Tip: Use Tickertape’s Portfolio Analysis to assess your investment portfolio’s diversification and performance.
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What is a smallcase?
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With over 500 smallcases to choose from, here are some of the most popular smallcases you can check out:
Note: The smallcases are mentioned only for educational purposes and are not meant to be recommendatory. Investors must conduct their own research and consult a financial expert before making any investment decisions.
Disclosures for aforementioned smallcases
Key Objectives of Intraday Trading
- Profit from Short-Term Price Movements
You can take advantage of small price changes within a single trading session. By buying at a lower price and selling at a higher price within the same day, you aim to make quick profits. The best intraday stocks today are those with significant price volatility and high liquidity. - Avoiding Overnight Risks
By closing all positions before the market closes, you may avoid risks associated with holding stocks overnight, such as after-hours news or events that could adversely affect stock prices. This makes intraday stocks for today particularly appealing to those who want to minimise risk. - Leveraging Market Volatility
Intraday trading thrives on market volatility. You might look for intraday stocks to buy today that exhibit significant price movements during the day, providing opportunities to enter and exit trades profitably. - High Liquidity
Highly liquid stocks can be bought and sold quickly without significantly affecting the stock’s price. High liquidity may ensure efficient trade execution and minimal slippage, making it easier to manage intraday trading stocks today. - Utilising Technical Analysis
You may want to rely heavily on technical analysis tools and charts to make informed trading decisions. Analysing price patterns, volume, and other indicators can help identify potential entry and exit points for your trades. This is crucial for identifying the best intraday stocks to buy today.
Intraday trading requires a deep understanding of market dynamics, quick decision-making skills, and a disciplined approach. Staying updated with market news and trends is crucial, as these can significantly impact intraday stocks within a single trading day.
Key Factors to Consider for Selecting Intraday Stocks
Selecting the best intraday stocks today involves evaluating various critical factors. Whether you are just learning how to trade intraday or are an experienced trader, it’s crucial to focus on liquidity, volatility, market news, and technical indicators. Let’s explore each of these in detail to help improve your intraday tips for stock market intraday trading.
1. Liquidity
When considering how to choose an intraday share for trading, liquidity plays a key role. High liquidity ensures that you can enter and exit positions quickly, which is essential for minimizing risk and maximizing profits. High volume stocks NSE for intraday often provide smoother transactions with tighter bid-ask spreads, allowing for efficient trading. Using an intraday stock screener can help you find the best stocks to do intraday trading with high liquidity, ensuring smooth trading experiences in the share market intraday.
2. Volatility
Volatility is another major factor when learning how to select stocks for intraday. Stocks with substantial price movements throughout the day offer more opportunities for profit. Whether you are trading top intraday stocks or emerging opportunities, focusing on high volatile stocks for intraday that exhibit healthy price fluctuations is vital. Volatile stocks on the best intraday stocks list can potentially generate more short-term gains, making them ideal for intraday trading for beginners and experienced traders alike.
3. News and Events
Keeping up with market news is essential when deciding which share is best for intraday. Earnings reports, economic releases, and geopolitical events can cause significant price movements, providing ideal opportunities for intraday traders. Monitoring these events allows you to find multibagger intraday stocks that may experience heightened activity and volatility. Some of the best stock names for intraday trading are often directly impacted by such news, making market awareness a key aspect of your stock market intraday trading strategy.
4. Technical Indicators
For traders keen on mastering how to make money in intraday trading, technical analysis tools like moving averages, RSI, and Bollinger Bands are indispensable. These indicators help you identify trends, momentum, and volatility, which can be useful in intraday trading time. Whether you’re using the Ticker Tape intraday screener or another platform, incorporating technical indicators into your strategy will enhance your ability to make informed trades. This is especially true for those new to intraday trading for beginners or seasoned traders looking to fine-tune their approach with the best intraday strategy.
Selecting from the best stocks to do intraday trading in India is easier with the right tools and indicators. Identifying the best stocks for intraday trading for beginners often starts with analyzing liquidity, volatility, and technical indicators that reveal optimal trading opportunities. By using resources like an intraday stocks list, you can pinpoint the top 5 stocks for intraday trading or focus on the most profitable stocks for intraday in the NSE for potential gains.
Popular Intraday Trading Strategies
There are several strategies that you might consider when engaging in intraday trading. Each strategy requires a different approach and set of skills. Here are some common strategies that you may explore to determine which is best for intraday trading:
Momentum Trading
Momentum trading involves buying stocks that are showing strong upward or downward trends. The idea is to capitalize on the stock’s continued movement in the same direction. You might look for top ten intraday stocks with high trading volumes and significant price changes as potential candidates for momentum trading.
Scalping
Scalping is a strategy that involves making numerous trades throughout the trading day to profit from small price changes. This approach requires a high level of focus and quick decision-making skills. You may benefit from using technical indicators and charts to identify short-term trading opportunities in the best intraday trading stocks.
Breakout Trading
Breakout trading focuses on stocks that break through previous support or resistance levels. When a stock’s price moves beyond these levels, it might indicate the start of a new trend. You could use technical analysis to identify potential breakout stocks and set your entry and exit points accordingly in the stock market intraday.
Range Trading
Range trading involves identifying stocks that trade within a specific price range and buying at the lower end (support) while selling at the higher end (resistance). This strategy relies on the assumption that the stock will continue to trade within this range. You can use technical indicators to determine support and resistance levels and plan your trades accordingly in the best stock for intraday for beginners.
Technical Analysis Tools for Intraday Trading
Using technical analysis tools can be essential for intraday trading. These tools might help you make better-informed decisions and identify potential trading opportunities. Here are some common technical analysis tools:
Moving Averages
Moving averages are commonly used to smooth out price data and identify trends. By calculating the average price over a specific period, moving averages can help you determine the direction of the trend. You might use different types of moving averages, such as Simple Moving Averages (SMA) or Exponential Moving Averages (EMA), to analyse stock trends.
Relative Strength Index (RSI)
The Relative Strength Index (RSI) is an indicator that measures the speed and change of price movements. It ranges from 0 to 100 and can help you determine whether a stock is overbought or oversold. RSI values above 70 may indicate overbought conditions, while values below 30 might suggest oversold conditions.
Bollinger Bands
Bollinger Bands consist of a middle band (SMA) and two outer bands that represent standard deviations from the middle band. These bands can help you determine volatility and potential price levels. When the bands widen, it indicates higher volatility; when they narrow, it suggests lower volatility. You can use Bollinger Bands to identify potential buy and sell signals.
Volume Analysis
Volume analysis involves examining the trading volume to understand the strength of a price move. Higher volume during price increases might indicate strong buying interest, while higher volume during price decreases could suggest strong selling pressure. By analysing volume, you can gain insights into the conviction behind a price move.
If you are looking for a reliable platform to utilise these essential technical analysis tools, use the Tickertape Stock Screener. It has over 200 filters including technical indicators, custom universes, custom filters, and more. With detailed insights and analysis of each stock on its individual pages, you can figure out if the stock suits your investment goals or not. Check out here!
Risk Management in Intraday Trading
Effective risk management strategies can be crucial for minimising potential losses in intraday trading. Here are some important risk management techniques:
Setting Stop Losses
Setting stop losses may help you limit potential losses by automatically closing a position when the stock reaches a predetermined price level. This can prevent emotional decision-making and ensure that you stick to your risk management plan.
Position Sizing
Position sizing involves determining the amount of capital you are willing to risk per trade. By allocating a specific percentage of your trading capital to each trade, you can manage your overall risk exposure. This approach can help you avoid significant losses on any single trade.
Diversification
Diversification involves spreading your investments across different stocks to reduce risk. By not putting all your capital into a single stock, you can mitigate the impact of any adverse price movement in one particular stock. This strategy may help you achieve a more balanced and less volatile portfolio.
Staying Informed
Keeping up with market news and events is crucial for making informed trading decisions. By staying informed about economic indicators, company announcements, and geopolitical developments, you can better anticipate market movements and adjust your trading strategy accordingly. For this, you can set custom ‘Alerts’ on Tickertape. Check it out now!
Common Mistakes to Avoid in Intraday Trading
Intraday trading, the practice of buying and selling stocks within the same trading day, carries significant risks that you must be aware of and manage effectively. Here are some common mistakes to avoid when engaging in intraday trading:
Lack of Proper Analysis
Successful intraday trading may require a thorough understanding of market dynamics, technical indicators, and stock performance. If you fail to perform adequate research and analysis before making trades, you might make impulsive decisions that lead to losses.
Excessive Leverage
Intraday traders often use high levels of leverage to amplify their potential gains. However, this also magnifies your risk exposure. Using excessive leverage can result in significant losses if a trade goes against your position.
Ignoring Stop-Loss Orders
Stop-loss orders are a crucial risk management tool for intraday traders, as they help limit potential losses. If you fail to set appropriate stop-loss levels or neglect to use them altogether, you are more vulnerable to large losses.
Lack of Discipline and Emotional Control
Intraday trading can be an emotionally taxing activity, with rapid price fluctuations and the potential for quick gains or losses. If you cannot maintain discipline and control your emotions, you are more likely to make impulsive, irrational decisions that undermine your trading performance.
Inadequate Risk Management
Effective risk management is essential in intraday trading. If you do not have a well-defined risk management strategy, including position sizing, diversification, and risk-to-reward ratios, you are more likely to experience significant losses.
Trading Illiquid Stocks
Intraday traders should focus on stocks with high liquidity, as they are easier to buy and sell at desired prices. Trading in illiquid stocks can lead to slippage, where the actual execution price differs from the expected price, resulting in losses.
Overtrading
Intraday trading can be tempting, with the potential for quick profits. However, if you engage in excessive trading, often driven by greed or fear, you are more likely to make mistakes and incur losses.
Who Can Do Intraday Trading?
Intraday trading may not be suitable for all investors. It is generally recommended for experienced traders who have a deep understanding of market dynamics, strong risk management skills, and the ability to make quick, informed decisions. Beginners and inexperienced traders may find intraday trading too risky and challenging, and you should consider starting with longer-term investment strategies before attempting intraday trading.
Conclusion
Selecting the right intraday stocks and employing effective trading strategies can be crucial for successful intraday trading. By considering factors such as liquidity, volatility, news, and technical indicators, you can identify potential trading opportunities. Additionally, using technical analysis tools and implementing risk management techniques may help you navigate the challenges of intraday trading. Remember to conduct thorough research and stay informed about market developments to enhance your trading outcomes.
FAQs About Intraday Stocks
1. What are the best times to trade intraday stocks?
The times you choose to trade intraday stocks might vary, but many traders find that the first and last hours of the trading day can be particularly active. The opening hour often sees high volatility due to the release of news and economic reports, while the last hour may experience increased trading activity as traders close their positions.
2. How can I identify good intraday trading opportunities?
You can identify good intraday trading opportunities by analysing technical indicators, monitoring market news and events, and observing stocks with high liquidity and volatility. Utilising charts and tools such as moving averages and RSI might also help in spotting potential trades.
3. What are the common mistakes to avoid in intraday trading?
Common mistakes in intraday trading might include overtrading, not using stop losses, letting emotions drive decisions, and neglecting to stay informed about market news. It’s important to have a well-defined trading plan and adhere to it to avoid these pitfalls.
4. How important is technical analysis in intraday trading?
Technical analysis can be very important in intraday trading as it helps you identify trends, price patterns, and potential entry and exit points. By using technical indicators and charts, you might make more informed trading decisions and improve your chances of success.
5. How can I manage risk effectively in intraday trading?
Effective risk management in intraday trading might involve setting stop losses, determining appropriate position sizes, diversifying your trades, and staying informed about market conditions. These practices may help you limit potential losses and protect your trading capital.
Explore other popular stock collections on Tickertape –
Here’s are some of the popular stock collections across different sectors in India:
As an insatiable reader and learner, I’ve spent the last two years exploring the world of finance. With my creative mind and curious spirit, I love making complex finance topics easy and fun for everyone to understand. Join me on my journey as we navigate the world of finance together!
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