Intraday trading can lead to high gains if you know the best shares to pick for the day. Since day trading focuses on short-term gains, technical and fundamental analysis are very crucial.
Intraday trading requires you to pick up those stocks that are expected to experience a significant price change during the day. If you are an intraday trader looking for the best intraday stocks to purchase, this article can help you.
Best Intraday Stocks in India
| Best Intraday Stocks | Trading Volume (shares) | 52 Week High | 52 Week Low |
| Jain Irrigation Systems | 9,564,403 | 84.19 | 47.42 |
| State Bank of India | 11,165,326 | 899 | 680 |
| Indusind Bank | 2,581,550 | 1550 | 606 |
| Bajaj Holdings and Investment Ltd | 26,663 | 14,400 | 8052.05 |
| Kfin Technologies Ltd | 2,009,667 | 1641.35 | 678.40 |
| Mannapuram Finance Ltd | 4,720,854 | 247.60 | 138.35 |
| Godrej Industries | 50,338 | 1314 | 766 |
| Trent Ltd | 1,042,487 | 8,345 | 4488 |
| Dr Reddy’s Laboratories Ltd | 3,321,181 | 1421.49 | 1020 |
| HCL Technologies Ltd | 884,667 | 2012.20 | 1302.75 |
| JSW Steel Ltd | 1,643,204 | 1074.90 | 854.15 |
| ITC Ltd | 11,236,708 | 528.50 | 390.15 |
| Rama Steel Tubes | 180,221,197 | 17.55 | 8.50 |
| Swiggy | 37,251,349 | 617.30 | 297 |
| Bharti Airtel Ltd. | 8,720,801 | 1917 | 1329 |
Tips for Choosing the Best Intraday Stocks with High Potential
Identifying stocks with the best opportunity to gain is crucial in intraday trading. Here are some ways to identify the best intraday stocks.
- Analyse the Trade Volume- When stocks of a particular entity are being traded in high volume, it depicts active participation from the traders. Investing in such stocks ensures easy entry and exit positions. Select high-volatile stocks with a volume surge for maximum gains.
- Moving Averages- You can rely on moving averages to identify the stock trends. For example, if the stock is above the moving average, it is in an uptrend and if it is below the moving average, it is in a downtrend. Choose stocks with an uptrend or a downtrend and avoid stocks with sideways movement.
- Relative Strength Index (RSI)- RSI helps you identify the overbought and oversold derivatives. An RSI of more than 70 indicates overbought stocks and their price is likely to fall or reverse.
- Price Action Patterns- You can also use the candlestick patterns, such as the Doji or the Hammer, to predict short-term price reversals. When the candlesticks form patterns, like the flag, rectangle or triangle and the price breaks past the resistance zone with volume, it signals a strong move.
Summary
The best intraday stocks for India include Jain Irrigation System, State Bank of India, Mannapuram Finance Ltd, ITC Ltd, etc. As an intraday trader, you can keep a close watch on the stocks mentioned in the table above and apply the technical and fundamental analysis techniques to purchase the best one.
You can apply volatility index, support and resistance levels, moving averages and other techniques to gauge the stock movements and make a wise decision. Lastly, being updated about the latest news and events also helps to pick the right intraday stocks. Some events and news can cause price fluctuations in certain stocks.
