There are few things to be considered before selecting a stock for intraday such as, 1)Volume 2)Price 3)Mimicking Stocks
VOLUME: Always Select a stock which has a high liquidity, which means the stock should have at least average daily volume of above 1 million (10 lakhs).
PRICE: Many would not consider this as a important parameter. but it must be considered. Choosing penny stocks for intraday is not a good choice at all. Always prefer stocks trading above Rs.100 for intraday
MIMICKING STOCKS: Look for the stocks which move in sync with the index. So when the index moves upward/downward, there is a high possibility for the stock to go up/down similarly. Few such examples are 1)Nifty & Reliance, 2)Bank nifty& HDFC Bank, 3)Nifty IT & TCS.
SUMMARY #Make a List of 10 stocks, which have good volume (>10 lakhs) & price above 100 #Try to Pick stocks from F&O category as they are the most liquid stocks & these stocks can't be manipulated easily by the operators. #Make sure the 10 stocks are from various industries. Because if we pick stocks from same industries, they are likely to move in tandem. #As a beginner, one should trade within only those 10 stocks every single day for at least 6 months. The reason behind is, every stock has a certain behaviour of its own & when we trade same stocks for a long time, one will get to know the in & out of the stocks & eventually be better at trading. #Another good reason is, every stock is subjected to move according to its corporate action ( Earnings, AGM, Dividends etc.,) So it becomes easy to pay attention to the news related to a particular company, when we trade very few stocks.
SAMPLE 10 STOCKS LIST:
Finance 1)SBI 2)ICICI
Pharma 3)SUNPHARMA 4)BIOCON
Auto 5)MAHINDRA & MAHINDRA 6)TATA MOTORS
IT 7)INFY 8)TECHM
Fmcg 9)HINDUNILEVER
Metal 10)TATA STEEL
Disclaimer : These are not rigid rules. All the above said are the things which am using for long time successfully. If you are successful with any other method, please continue that.
@Divyaapugal can you tell me madam is this correct scipt i written? Hello everyone, This indicator is for identifying candle reversal incidents. The indicator detects potential candlestick reversal patterns. It plots proper Entry and Stop Loss points on chart. Indicator Feature ➤Generates Long ,short and stoploss Dynamic signals on charts. ➤You can adjust Stop loss for Long and short positions in points as per your convenience. ➤You can use this on any chart for intraday signals. ➤More feature coming soon please wait and feedback.
Good morning madam. Nice information. very valuable information. we will make use of it. Kindly do share such valuable information
Shalasar
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Quite informative for trade beginners. Simple to understand and Important to practice. Would love to join your knowledge updating session and articles. 👍👍
bonvoi
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Index heavyweights wont mimic the index, they move index
Regards
Vanathi