Pick Right Stocks

How to Pick the Right Stocks Intraday Trading?

Trading is Half done if you can Select and Pick the Right Stocks for your Intraday Trading Strategy where maximum effort is required and once the stock is selected wait for the right setup and enter the trade and achieve your goals.

How to select and Pick Right Stocks for Intraday Trading Strategy? 

Check out the stocks price movement 

Have you experienced the price movement of the stock reversing as soon as you enter the trade? or the movement of the stock you picked stops moving as soon as you put in your trade?

Picking the right stocks moving in the direction of the trend is very important to make profits or the price of the stock as soon as you buy, moving in the opposite direction. Picking the right stocks is what matters and the timing.
Learn how to pick the right stocks in the direction of the trend in these 5 simple steps for the Intraday Trading Strategy in NSE.

For intraday, the best trending stock to pick would be the stock that is outperforming, and moving with volumes on a particular day with either a bullish or bearish trend, will be the ideal one and technically strong in that particular direction preferably the stock moving in the direction of the market trend. 

For Long trade

If the Indices is trading positive and strong, take a long trade

To select 3 or 4 top market gainers or losers with high volumes 

Step-1: go to the NSE site

Go to the NSE India site, or in your terminal check the high-value gainers 

Link https://www1.nseindia.com/live_market/dynaContent/live_analysis/top_gainers_losers.htm
Pick 3 or 4 stocks from the gainer's list with high-value trades in futures, nifty 50 stocks.

Step-2: Check the day's gainers and losers details

Write down High, Low, Open, Close, Average, and Previous close. of each of the stocks picked.
Check the percentage gains in gainers or losers  (value traded and not the volumes.) See that the stocks opened in green.

Step-3: note the parameters

Note down all parameters like pivot, supports, and resistances of the stocks. 

Step-4: Pick bullish and bearish stocks

Out of the selected stocks, pick the bullish stocks which are trading above average throughout the time for a long trade, and pick the bearish stocks trading below average for the short trade.

Step-5: wait for a dip to trade

Wait for the stock to make a dip to their supports, do not enter randomly, Enter the trades at supports and have a stop loss right below the supports or average depending on your risk-reward ratio. 
Reverse the strategy for short trades.
wait till it reaches the support in a bullish stock or resistances in a bearish stock and makes an entry with your stop loss below or above it depending upon the trade you take.

  • It is always advisable to take long positions in a bullish market and go short in a bearish market and hold on to it until the market remains in the same direction and exit once it changes its direction or if your target is achieved. 
  • To take up long/Short positions one should look at the volumes, the %gain, its open, low, close, high, average, pivots, resistances, supports, and other parameters besides the technical’s into consideration. This should be considered with different market conditions and timings to make an effective decision.
  •  One should avoid taking the reverse position (against the main trend) of any moving stock hoping that it reverses as per your wish. 
  • Markets do not listen to anyone. Go with the Market trend.
  • Make a strategy that gives maximum returns and fewer losses during the market's volatility or noise or whipsaws. 

Important: 

Always pick the stocks one that opens above the previous closing price, makes a low near the closing price, has a good start trending and trading above the average price, wait for a dip to enter in a bullish stock, and vice versa in bearish stock in a downtrend market.

When to enter a Long trade:
stocks pick for day trading Reliance

stocks pick for day trading Reliance


See that the stock that you pick for intraday trading has enough liquidity, that is, it should be trading in good volumes.
    If the stock is opened in the green, that is if the open price is greater than the previous close it is more likely to go up. Check the low of the stock, preferably near the close, and check for the pivots, supports, and resistances. Check the long-term chart. 

    Avoid stocks that have both open and high at the same price and trading lower, it has the tendency to go down, wait until it breaks the high it can be traded long.
    Make sure to trade above the moving averages.

    When to enter a Short trade:

     The opposite is true for short trades. 
    see that the open is less than the close and high is around the close. , it should be trading below the moving average. check out for pivots, supports, and resistances.

    If you are long or short and made good profits get out of the trade. If the price begins to trade in the opposite direction and moves below the moving average in a long trade exit and vice versa.