List of the Top Indian Intraday Stocks to Buy Right Now

Sr.No

Company Name

BSE Scrip Code

NSE Symbol

1

   TATA MOTORS

500570

TATAMOTORS

2

   BAJAJ FINANCE

500034

BAJFINANCE

3

 JINDAL STEEL & POWER

532286

JINDALSTEL

4

INDUSIND BANK

532187

INDUSINDBK

5

Vodafone Idea

532822

IDEA

 

Volatility and Liquidity

For intraday trading, volatility and liquidity are also essential. High volatility, which creates additional trading possibilities, is indicated by significant daily price variations. Volatility reduction reduces trading chances. Volatility shouldn't be permitted to impact liquidity, which is essential for daytime entry and exit.

Shares that are very volatile and thinly traded should be avoided by traders. It is possible that traders will periodically lose interest on one side of the deal. Due to circuit constraints or a lack of money, they are unable to depart.

 

Sometimes the difference between the ask and bid prices is so great that it has an impact on trading expenses. This occasionally occurs in sparsely traded stock options, penny stocks, and indices.

Volatility is said to be a result of stock market activity. Stocks with a history of erratic trading and high volume should be chosen as trading candidates rather than concentrating on the volatility pattern within the context of a certain day or week. The list of stocks below is one example.

The most popular intraday shares on the NSE and BSE were carefully examined to determine their recent volatility and liquidity prior to creating the list. Nevertheless, as volatility is a dynamic term that may alter over time, just like a stock's liquidity, the stocks shouldn't be viewed as the final list.

Strategies for picking stocks for intraday trading

While picking stocks for intraday trading, a trader should primarily consider volatility and liquidity. It is possible to add and closely monitor equities with technical trade setups, market cycles, and equity-related news, especially when the stocks are trading around their day's high or low.

One may use indicators like ATR and standard deviations to compile a list of the best stocks for intraday trading. Any time period may be used, including the last 50 or 100 days. In order to determine which stocks are the most liquid, look at the average turnover over the last 100 days. Because of this, stocks should be the most tradable and volatile securities.

Nifty and Bank The Nifty indices are the most widely traded assets for intraday trading since they are followed by both institutions and the general people. The aforementioned list does not contain significant market cap stocks like Reliance, HDFC, HDFC Bank, ITC, Infosys, and TCS. These businesses have a high degree of liquidity with a moderate amount of volatility due to their size and corporate stability. The domination of businesses from the highly volatile and frequently traded banking and NBFC sectors is another aspect of the aforementioned list that needs to be emphasized.

The brief descriptions of each business in the watch list table may provide you with a general sense of the kind of companies to consider for intraday trading.

 

Axis Bank

The third-largest private bank in India, Axis Bank, provides a variety of financial services. Mumbai is home to the bank's main office. There are more than 4758 branches, more than ten overseas offices, and a sizable ATM network all present. It offers financial services to retail firms as well as big, medium-sized, small, and independent businesses. In the market, it is valued at Rs. 2,90,167,000,000. As of September 2022, promoters and promoter groups owned 09.69% of the shares. Several parties, including mutual funds, FIIs, banks, insurance providers, corporations, and individual investors, hold the remaining 90.33% of the total number of shares. A daily turnover of more than 1400+ Cr occurs in the stock, which frequently moves between 2 and 4 percent. Typically, the stock trades

 

Bajaj Finance:

 One of the first to provide interest-free EMI financing alternatives for more than 50 different product categories, such as consumer durables, lifestyle goods, and groceries, is Bajaj Finance Ltd., one of the key players in India's booming consumer finance sector. The organisation has a substantial market share in SME, commercial, and rural loans in addition to consumer lending. The business is valued at more than Rs. 4,04,082 crore in the market. The promoter group owns approximately 55.66% of the total shares, with the remaining 44.13% being held by mutual funds, other institutions, and the general public. The stock trades for more than 2400 Cr on average each day, and its daily range typically swings between 1% and 3%. The stock trades for an average of 901+ lacs every day.