Best Stocks for Intraday Trading in India

Intraday trading can be potentially rewarding if you know what the best shares for intraday trades are. While investors tend to focus on potential long-term capital appreciation, intraday traders aim to profit from daily price fluctuations in the stock market. Technical analysis is crucial for intraday traders, much like how fundamental analysis is vital for investors in the stock market. 

If you are interested in finding the best intraday trading stocks for today or any other trading day, this article can help you understand what to do and which stocks to look for. Samco Securities makes intraday trading in the stock market easier with up-to-date insights offered on the Samco Trading App. Sign up for a Samco trading account to access these trading tools and technical analysis insights free of charge.

What is Intraday Trading?

Intraday trading is a strategy that involves purchasing and selling stocks or other securities in the daily trading session. This means you close any open positions within the same trading day. Instead of aiming to profit from potential long-term capital appreciation like investors, you attempt to leverage intraday price fluctuations in the market. 

This means you need to factor in volatility when choosing the best stocks for intraday trading in India. Samco Securities can help you identify high-volatile stocks for intraday trading today with up-to-date technical insights and market data. 

Best Stocks for Intraday Trading in India 

The Indian stock market offers numerous opportunities for intraday traders. However, not all stocks are ideal for this fast-paced trading strategy. As an intraday trader, you must carefully select stocks based on technical analysis to ensure long-term success. Here is a list of best shares for intraday trades, along with a few key metrics.   

• State Bank of India Ltd.

India’s largest public sector banking institution, the State Bank of India Ltd. is the best share for intraday trades. The bank offers a comprehensive range of financial products and services focusing equally on both urban and rural segments of the country. 

The strong market cap of Rs. 7,32,175 crores and a 20-day average volume of around 136.5 lakh, make SBI one of the best stocks for intraday in India. As of October 18, 2024, the daily relative strength index (RSI) of the stock stood at 60, which indicates a neutral trend and potential for breakout or range-bound intraday trading strategies. In the event of a major macroeconomic event, the SBI could even feature in the list of high-volatile stocks for intraday today. 

• Tata Motors Ltd.

A leading automotive manufacturer in India, Tata Motors Ltd. consistently ranks among the best intraday stocks for trading on the NSE. The company is known for producing highly safe passenger cars, commercial vehicles, and electric vehicles (EVs). 

A market cap of Rs. 3,35,025 crores and an average trading volume of 133.5 lakh indicates strong market participation, making it the best share for intraday trades. As of October 18, 2024, the daily RSI was around 36, indicating that the shares are fast approaching oversold territory. If Tata Motors Ltd. were to rebound sharply, it could feature in the list of high-volatile stocks for intraday today.

• Havells India Ltd.

One of the prominent players in the consumer electrical goods industry, Havells India Ltd. is also one of the best stocks for intraday in India. The company is widely known for manufacturing high-quality electrical products ranging from lighting and fans to home appliances.

With a high market capitalisation of Rs. 1,15,965 crores and a 20-day average volume of 76.5 lakh, this best share for intraday trades has enough liquidity to enter and exit trades easily. As of October 18, 2024, the shares of Havells India Ltd. were trading above its VWAP of Rs. 1,799.60, indicating bullish sentiment. 

• Axis Bank Ltd. 

Axis Bank Ltd. is among India’s top private sector banks and quite often features in the high-volatile stock for intraday today list. Known for its strong retail banking operations and innovative financial solutions, the bank has consistently delivered solid financial performance. 

One of the aspects that make Axis Bank Ltd. the best share for intraday trades is its immense liquidity, which is evidenced by its 20-day average volume of 74.8 lakh. As of October 18, 2024, the shares of Axis Bank were trading above its VWAP of Rs. 1,147.30, indicating a bullish sentiment. This, combined with a neutral RSI of 57 makes it one of the best stocks for intraday in India. 

• Bharti Airtel Ltd.

Consistently on the list of intraday trading stocks for today, Bharti Airtel Ltd. is the second-largest telecommunications provider in India. From mobile telephony and broadband to enterprise solutions, the company has a strong market position which contributes to high trading interest in the stock.

The high market capitalisation of Rs. 10,23,309 crores and 20-day average volume of 57.1 lakh signify exceptional liquidity, which is crucial for being categorised among the best stocks for intraday in India. As of October 18, 2024, the stock was trading far higher than its VWAP of Rs. 1,469.7, suggesting strong bullish sentiment. 

How to Identify High-Potential Intraday Stocks?

Ideally, you need to consider factors like volatility and momentum to identify the stocks that may offer opportunities for intraday trading. Here is how you can determine the best intraday trading stocks for today more effectively.

• Volume Analysis

High trading volumes often indicate active participation, and this makes it easier to enter or exit positions. So, you can look for high-volatile stocks for intraday today with a volume surge because this can signal strong price movements.

• Relative Strength Index (RSI)

Another way to identify the best shares for intraday trades is to look for overbought or oversold stocks using the RSI. The best intraday stocks today under Rs. 100 or any other price range may show extreme RSI values — indicating potential reversal opportunities.

• Moving Averages (MA)

Stocks crossing their short-term moving averages can also indicate a potential breakout. The best intraday stocks for trading on the NSE today, for instance, may display such patterns. You can consider them to be signals of favourable entry or exit points.

• Price Action Patterns

Another strategy could be to look for candlestick patterns like the Doji or hammer candlesticks, which predict short-term price reversals. These patterns often highlight the best shares for intraday trade, especially in volatile market conditions.

• Support and Resistance Levels

You can also find intraday trading stocks for today by looking for those that test key support or resistance levels repeatedly. These stocks may experience significant price changes, thus offering excellent intraday trading opportunities.

• Volatility Index (VIX)

High VIX levels are also something to look for because they can point to increased market activity. The best stocks for intraday in India often exhibit noticeable price movements in volatile market conditions.

• News and Events

To identify the high-potential stocks for intraday trading, you should also monitor the market news and earnings reports. Sudden developments may cause price fluctuations in some stocks. You can identify these high-volatile stocks for intraday trading today.

Balancing Risk and Reward

To balance risk and reward in intraday trading as an investor or trader, you need to ensure careful planning and disciplined execution. One way to do this is to diversify your trades across multiple high-volatile stocks for intraday today. This minimises your exposure to a single stock. Setting stop-loss orders and booking profits at predetermined levels also helps protect your capital while simultaneously capturing gains in the best shares for intraday trades.

Additionally, you must focus on stocks with clear technical indicators like moving averages or RSI levels. This can help you identify the best intraday stocks for trading on the NSE and the BSE. You can also combine technical analysis with a risk-reward ratio of at least 1:2 to ensure that potential rewards outweigh possible losses.

Risk Management Techniques

To reduce risk when you are buying and selling the best shares for intraday trades, consider adopting these strategies:

• Set a Stop-Loss

Always set a stop-loss to cap potential losses. For example, if you are trading the best stocks for intraday in India, decide beforehand what the maximum amount you’re willing to lose is. This will ensure that you exit losing trades quickly and preserve your capital.

• Limit Position Size

Avoid putting all your money into one stock — even if that means the best intraday stocks today under Rs. 100. Allocate a fixed percentage of your capital to each trade. This diversification minimises the impact of losses and maintains balance in your trades.

• Stick to a Risk-Reward Ratio

Follow a consistent risk-reward ratio — like 1:2 or 1:3 — to make potential gains outweigh the losses. Even when dealing with high-volatile stocks for intraday, this approach helps initiate trades with potentially favourable outcomes and reduces emotional decisions.

Intraday Trading Made Easier with Samco Securities 

To find the best shares for intraday trades, you can rely on the Samco Trading App for up-to-date analytics about each stock. What’s more, you can also place your trades directly and instantly from the app, and monitor your open positions easily from your account. With expert insights from Samco Securities, intraday trading just got easier for every trader in the Samco family. 

FAQs About Intraday Stocks 

• How to identify the best intraday trading stocks for today?

Look for high liquidity, significant price movements and strong technical indicators like RSI or moving averages. News-driven stocks may also emerge as the best intraday trading stocks for today due to increased volatility and trader interest.

• Are there any risks in the best shares for intraday trades? 

Yes, intraday trading can be risky due to market volatility, sudden price reversals and leverage usage. Even the best shares for intraday trades may lead to losses if trades aren’t backed by analysis and strict risk management.

• How to find the best intraday stocks today under Rs. 100? 

Analyse stocks under Rs. 100 that show consistent price action and trading volumes. Use technical tools like Bollinger Bands and watch market-related news. Budget-friendly stocks with liquidity and volatility also often tend to become the best stocks for intraday trading.

• Is volatility an important factor to consider to find the best stocks for intraday trading?

Yes, volatility is crucial as it ensures price movement, which creates opportunities for profits. High-volatile stocks for intraday trading allow you to enter and exit positions efficiently. This makes volatility a key factor in intraday trading.

• What are the best intraday stocks for trading on the NSE today?

The best intraday stocks for trading on the NSE and the BSE often include high-volume and news-sensitive companies like HDFC Bank or Reliance. To identify these trading opportunities, you can track market trends, technical patterns and sectoral movements.