Top Intraday Stocks on NSEIndia for 26-06-2020

Intraday trading involves buying and selling securities on the same day to take advantage of the volatility in the stock price during the day. As we explore the best stocks for intraday, we often choose from the NSEIndia (Nifty 50) list. Here, we will outline the steps to select the best intraday stocks, providing you with a detailed guide on how to approach this form of trading.

Choosing the Best Intraday Stocks

1. Top Gainers and Top Losers: A common method to identify potential intraday stocks is to look for the top gainer and top loser stocks on the NSEIndia website. These stocks often show high volatility and significant price movements, making them attractive for intraday traders.

2. Gap-Up and Gap-Down Stocks: Gap-up and gap-down stocks are those that open higher or lower than their previous day's closing price. These stocks often experience significant price movements throughout the trading day, providing traders with potential profit opportunities.

3. High Volatility and High Volume: High volatility indicates significant price fluctuations, offering more opportunities for traders to make quick gains. High volume suggests a large number of buyers and sellers, making the stock more liquid and less prone to price manipulation.

Selecting Specific Stocks for Intraday Trading

Based on the above criteria, let's identify some top intraday stocks for the NSEIndia market on 26-06-2020. For this date, we have selected the following stocks:

Axis Bank - A leading private sector bank in India with a strong market presence. ICICI Bank - Another major player in the banking sector. Tata Consultancy Services (TCS) - One of the world's largest providers of business, IT, and consulting services. MM Limited - A diversified manufacturing company in India. Mahindra Mahindra - Known for its wide range of products from tractors to automobiles.

It's important to note that these selections are based on the criteria mentioned earlier and may not be suitable for everyone. It is strongly recommended that traders conduct their own research and analysis before making any trading decisions.

Intraday Trading Strategy

Intraday trading involves a high level of risk and requires a solid trading strategy. Here are some key points to consider:

Know Your Market: Before placing any trades, it's crucial to understand the overall market conditions and the performance of individual stocks. Entrance and Exit Strategy: Define your entry and exit points clearly. Consider using technical indicators to identify favorable trading setups. Risk Management: Implement strict risk management techniques to protect your capital. Set stop-loss orders to limit potential losses.

For beginners, it is advisable to start with equity stocks rather than index stocks. Some recommended equity stocks for intraday trading are:

Top 5 Equity Stocks for Intraday Trading

BANKBANDHAN - A privatised bank with a focus on rural and semi-urban areas. MAHINDRA MAHINDRA - A multi-industry group operating in sectors like automobiles, construction equipment, and farm equipment. 5. ICICI BANK - A prominent player in the banking sector known for its innovative products and services.

It's important to conduct your own research and form your own opinions before making any trading decisions. While these stocks have been selected based on certain criteria, the market is inherently unpredictable. Always remember to trade with caution and never risk more money than you can afford to lose.

Conclusion

Intraday trading offers exciting opportunities for those seeking quick profits, but it also comes with significant risks. By carefully selecting stocks and implementing a well-defined trading strategy, traders can enhance their chances of success. If you have any questions or need more information related to stock market investments or trading, feel free to connect with me or visit my YouTube channel, 'Mukul Agrawal.'