5 Best Intraday Stocks to Buy in India Right Now
Intraday Trading refers to buying and selling stocks or other trading instruments on the same day in order to profit from price swings in the market.
In simple words, a trader has to close his open trades before the trading session ends. In recent years, the volume of demat account holders has increased dramatically.
This has resulted in a substantial increase in intraday trading volumes. In addition, trading costs in Intraday trading are quite low as most discount brokers charge minimal or no fees on trading.
Traders nowadays have attracted a lot towards Intraday stocks. But due to a lack of knowledge of market trends, most of them end up losing their money.
For Intraday trading, one should choose a stock with sufficient volatility and liquidity. Learn how to select stocks for Intraday trading in this article.
To assist you in selecting the best stocks for Intraday trading, here’s a list of the top 5 stocks you should consider once.
Top 5 Best Intraday Stocks in India:
Here’s a list of the best Intraday stocks to buy in India right now. Take a close look at all of them and pick the best that suits your trading style.
Bandhan Bank:
Bandhan Bank Ltd is a leading Indian banking and financial services firm. The bank operates in over 4000 banking locations. There are 986 branches and 3,014 Doorstep Service Centers in the network (DSCs). =
Bandhan Bank has a substantial presence in India’s East and North East regions. The bank has a market capitalization of more than Rs. 43000 crores.
Around 40% of total shares are held by the promoter group, while the remaining 60% are held by FIIs, mutual funds, the public, and other organizations.
Indiabulls Housing Finance:
Indiabulls Housing Finance operates under the Indiabulls group and accounts for over 80% of the group’s revenue. The firm has a market capitalization of around Rs. 11,000 crore.
The promoter group owns 21.69 percent of the corporation, while insurance companies, institutions, FII, and the general public own the remaining 74.61 percent.
The company has an average one-day turnover of more than 450 crores and a trading range of 4% to 6%. The company’s stock has a daily trading volume of more than 23 million shares.
Jindal Steel & Power:
Jindal Steel and Power Limited (JSPL), a part of Jindal Group, is a steel and power corporation headquartered in Hisar, India. The company has a turnover of around US$5.5 billion.
The firm has a market valuation of over Rs. 35,000 crore, with the promoter group owning 60.47 percent of the shares and mutual funds, FIIs, and others owning the remaining 39.53 percent.
The stock’s typical daily trading ranges from 4% to 6%, with an average daily transaction volume of more than 280 crores. As a result, the stock has a daily trading volume of more than 65 lacs.
TATA Motors:
TATA Motors Limited, which operates under the TATA group, is India’s leading automobile company headquartered in Mumbai.
The company operates in many countries across the globe, including the UK, South Korea, Thailand, South Africa, and Indonesia.
The company is valued at around Rs 1,60,000 crores on the stock exchange. The promoter group owns 46.41 percent of the shares, while FII, insurance companies, and the general public own 53.59 percent.
The stocks trade in a 3.40 percent to 5.20 percent range, with a one-day turnover of over 1300 crores. The stock has a daily trading volume of more than 300 lacs.
RBL Bank:
Founded in 1943, RBL is a leading Indian private bank with headquarters in Mumbai, Maharashtra.
The bank has a market capitalization of over Rs. 11,000 crores. All of its shares are held by mutual funds, FIIs, insurance companies, institutions, and the general public.
The stock’s typical daily turnover is around 500 crores, with a trading range of 3.00 percent to 5.00 percent. The stock has a daily trading volume of about 8.7 million shares.
How to Choose Stocks for Intraday Trading?
There are many things to keep in mind when you’re figuring out – How to pick stocks for intraday?
Below are a few factors to consider when picking the best stocks for Intraday Trading:
Risk Management:
Before getting started, a trader should determine how much risk they can bear. They should also keep the number of open positions to a minimum.
Check for any Event on a particular day:
Before you start your intraday session, it’s a good idea to see if the stock has any corporate events coming up for the day. This should be performed regularly.
As these events can negatively or positively affect the value of a stock. Regardless of the outcome, it is important to stay informed about any upcoming events.
Liquidity and Volatility:
Intraday trading requires a high level of volatility and liquidity. High volatility means big price swings throughout the day, which means more trading possibilities.
However, there are fewer trading chances when volatility is low. Volatility should not match the liquidity, as it is essential for day-to-day market entry and exits.
Conclusion:
Above, we have listed the 5 best stocks for intraday trading. These stocks might perform better in intraday trading.
We have also discussed a few factors in choosing the best Intraday stocks. To successfully execute the trade, you’ll need to open a trading account with a good broker such as PrimeFin.
The broker offers a range of assets to choose from. The other key features of trading with PrimeFin include low trading fees, best-in-class services, an advanced trading platform, and professional customer support.
