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In the below article, we will cover,

• What is Intraday trading?
• Factors to Consider While Picking Best Stocks for Intraday Trading
• List of Best Intraday Stocks to Buy now in India
• Methods to select stocks for intraday trading
• A detailed table with various parameters for Best Intraday Stocks to buy

What is Intraday trading?

Intraday trading means a trader is buying and selling shares or other trading instruments on the same day to benefit from the stock price movement during the day.In short, a trader closes his open trades before the closing of the trading session. He does not carry any overnight risk that can affect his profits.There has been a sharp surge in intraday trading volumes in recent years due to rising number of demat accounts. The trading costs have reduced drastically as discount brokers charge only nominal fee compared to traditional brokers.Intraday trading got a booster during the Covid-19 lockdowns as well. People who were restricted to their homes picked up day trading as a source for generating income.Intraday trading is possible in any segment whether it is cash, futures and options (F&O), commodity or currency derivatives. One can also take leveraged positions in stocks that are not available in F&O segment.Even though intraday trading eliminates overnight risk, there are other risks such as sudden news during trading hours, illiquidity in the instrument, and fluctuating volatility of the instruments. Other factors such as trading plan, money management, and risk management also affect a traders’ profitability in the long term.Trading is a stream where profits and losses affect human psychology. A trader’s decision-making ability is highly impacted by his state of mind. High optimism or overconfidence due to large profits or long winning streaks can lead to taking oversized positions. He might take big risk or hold losing positions for a longer time in the hope of breaking even.Similarly, recent losses or streak of losses can lead to taking undersized positions despite the right trading setup. He might even  cut profit-making positions early. Hence, it is very important to trade based on a trading plan and not trade based on emotional bias and gut feelings.

Factors to Consider While Picking Best Stocks for Intraday Trading

There are various things to keep in mind while determining the best stocks for intraday trading.

• Trader’s criteria

Traders must first decide the  risk they are willing to take per trade. They should also limit the maximum number of open positions. Managing multiple trades can become quite complex as long and short trades would be open in different stocks.

• Corporate event 

If trades have been taken on some technical setup, it is prudent to check if there is any corporate event scheduled on the same stock. This checkup should be done on a routine basis. Such events bring both challenges and opportunities with them. Irrespective of the  outcome, it is good to remain informed of any scheduled events.Samco app helps you track corporate events and news flow in your stocks easily. Download it right now.

• Volatility and Liquidity

Volatility and liquidity are also very critical for intraday trading. High volatility means large price movements during the day that translates to more trading opportunities. Low volatility means fewer trading opportunities. The volatility should not come at the cost of liquidity as liquidity is crucial for entry and exits during the day.Traders should avoid highly volatile and thinly traded stocks. There are times when traders are stuck on one side of the trade. They cannot exit due to illiquidity or circuit limits.Sometimes the spread between the bid and ask prices is also wide enough which affects trading costs. This occasionally happens in thinly traded penny stocks as well as thinly traded index and stock options.Volatility is attributed to the behavior of stocks. The pattern of volatility should not be seen in the context of a particular day or week, rather stocks that have a history of volatile trading and are highly traded should be selected as trading candidates. One such list of stocks is mentioned below.The list has been prepared by extensively analysing the volatility and liquidity of top intraday stocks on NSE and BSE given the recent history. However, volatility is varying in nature thus the stocks should not be considered as the ultimate list as their volatilities and liquidity can keep changing over a period of time.Enjoying the enriching blogs? Introduce your friends to Samco for a similar experience. Earn up to Rs. 6,200* per successful referral. Refer now and start earning rewardsYou can watch this insightful video on how to pick stocks for intraday trading especially in the futures and options (F&O) segment.

List of Best Intraday Stocks to Buy now in India

Sr. No	Company Name	BSE Scrip Code	NSE Symbol	CMP -1st June 2023	Rating
1	INDUSIND BANK	532187	INDUSINDBK	₹ 1284.95	4
2	MAHINDRA & MAHINDRA LTD	500520	M&M	₹ 1330.15	0.5
3	TATA CONSUMER PRODUCT	500800	TATACONSUM	₹ 794.25	2
4	TECH MAHINDRA	532755	TECHM	₹ 1,114.05	3
5	SUN TV	532733	SUNTV	₹ 447.20	4
6	NMDC	526371	NMDC	₹ 106.90	3
7	DIVIS LABORATORIES	532488	DIVISLAB	₹ 3475.20	4
8	STATE BANK OF INDIA	500112	SBIN	₹ 595.00	1
9	DLF	532868	DLF	₹ 482.65	0.5
10	MAHANAGAR GAS LTD	539957	MGL	₹ 1045.20	4
11	TATA MOTORS	500570	TATAMOTORS	₹ 521.45	0.5
12	BAJAJ FINANCE	500034	BAJFINANCE	₹ 6932.05	5
13	JINDAL STEEL & POWER	532286	JINDALSTEL	₹ 531.80	0.5
14	BHARTI AIRTEL	532454	BHARTIARTL	₹ 821.25	4
15	AXIS BANK	532215	AXISBANK	₹ 929.80	3

Methods to select stocks for intraday trading

1. IndusInd Bank
2. Mahindra & Mahindra
3. Tata Consumer Product
4. Tech Mahindra
5. Sun TV
6. NMDC
7. Divis Laboratories
8. State Bank of India
9. DLF
10. Mahanagar Gas LTD

Volatility and liquidity should be primarily at the top of a trader’s mind while selecting stocks for intraday trading. However, other factors like market cycles, stocks in the news, and stocks with technical trade setups can be included in the list and actively tracked especially when they are trading at day’s high or day’s low.One can use indicators like ATR, standard deviations to prepare a list of best stocks for intraday trading. One can use it over a period of time say in the last 50 or 100 days. Whereas for liquidity; average turnover of the last 100 days can be used to determine top liquid stocks. Stocks that appear at the top of both liquidity and volatility lists should then be selected for the trading universe.Nifty and Bank Nifty indices are the highest traded instruments for intraday trading as institutions and public track these indices. One important thing to notice in the above-given list is that we have excluded top market cap stocks like Reliance, HDFC, HDFC Bank, ITC, Infosys, and TCS. These stocks are highly liquid but they are not highly volatile due to their size and stability in their business. One more thing to notice in the above list, many stocks are from the banking and NBFC sector which are highly volatile sectors and are largely traded.Brief details about each company from the watchlist table will give you an idea of what kind of stocks should be selected for intraday trading.

• IndusInd Bank

IndusInd Bank is a leading Indian private sector bank that provides a wide range of banking and financial services. It was established in 1994 and is headquartered in Mumbai, Maharashtra, India. The bank operates through a network of branches and ATMs across the country, serving individual customers, small and medium-sized enterprises (SMEs), and corporate clients.The bank has a market cap of Rs. 100344 Cr. with the promoter group holding 16.51% shares while the rest 83.51% are held by FIIs, public, and others collectively. The stock has an average daily turnover of 8.30 crore and the 20-day average volume is 36.43 lac shares.

• Mahindra & Mahindra

M&M was established in 1945 and has since grown into one of the largest corporations in India. The company is known for its expertise in manufacturing utility vehicles, tractors, commercial vehicles, and two-wheelers. M&M is recognized as one of the leading automobile manufacturers in India and has a significant presence in the global automotive market.It has a market capitalization of Rs. 1,65,196 Crore. As of March 2023, 19.37% shares are owned by promoters and promoter groups. The remaining 80.63% of total shares are owned by mutual funds, FIIs, banks, insurance companies, corporate bodies, and individual investors among others. The stock has an average daily turnover of 15.64 crore. and the 20-day average volume is 24.69 lac shares.

• Tata Consumer Product

Tata Consumer Products operates in two main categories: Beverages and Foods. Under the Beverages segment, the company is involved in the production and distribution of a wide range of hot and cold beverages. It offers well-known brands such as Tata Tea, Tetley, Good Earth, and JEMCA, providing a diverse selection of teas, coffees, and herbal infusions to cater to different consumer preferences globally.The company has a market capitalization of Rs. 73475 Crore. Promoter group holds around 34.44% of the total shares while 65.56% are held by mutual funds, other institutions, and the public. The average daily turnover is 2.5 crore. The 20-day average volume is 9.04 lacs.

• Tech Mahindra

Tech Mahindra offers a wide range of IT services and solutions to clients across industries such as telecommunications, healthcare, banking and financial services, manufacturing, and retail. The company specializes in digital transformation, consulting, and business process outsourcing (BPO) services.Tech Mahindra has a market cap of Rs. 107023 Cr. Promoter group holds around 35.18% of total shares while 64.82% are held by FII, mutual funds, and public and other institutions. The average daily turnover is 12.93 crore. The 20-day average volume is 1 lac shares.

• Sun TV

Sun TV operates a network of television channels in multiple languages, including Tamil, Telugu, Malayalam, Kannada, and Bengali. It offers a diverse range of content, including entertainment shows, movies, news, music, and sports programs. Sun TV has gained immense popularity and has a significant viewership base, especially in the southern states of India.The company has a market cap of Rs. 17649 Cr. The promoter group holds 75% of total shares and the remaining 25% of the total is held by FII, mutual funds, public, and others. The average daily turnover is 1.42 crore. The stocks 20-day average daily trading volume of 4.91 lac shares.

• NMDC

NMDC (National Mineral Development Corporation) Limited is an Indian state-controlled mineral producer and explorer. It is a public sector undertaking and is headquartered in Hyderabad, Telangana, India. NMDC is one of the largest iron ore mining companies in India and is involved in the exploration, mining, and processing of a variety of minerals.The company has a market cap of Rs. 31416 Cr. Promoter group holds 60.79% stake in the company and the rest 39.21% is held by FII, DII, insurance companies, institutions, and the public. The average daily turnover is 15.19 crore. The 20-day average volume of the stock is 77.71 lac shares.

• Divis Laboratories

Divi's Lab has established itself as a leading player in the global pharmaceutical industry and is known for its expertise in the production of complex APIs and intermediates. The company operates multiple manufacturing facilities that adhere to stringent quality standards and comply with global regulatory requirements.The company has a market capitalization of Rs. 91799 crores in which the promoter group holds 51.94% shares and 48.06% shares are held by mutual funds, FII and others. The average daily turnover is 11.34 crore. The 20-day average volume of the stock is 5.68 lac shares.

• State Bank of India

As a full-service bank, SBIN offers a wide range of financial products and services to its customers, including personal and corporate banking, loans, deposits, credit cards, wealth management, insurance, and investment services. The bank operates through a vast network of branches and ATMs across India and has a significant presence in international markets as well.The company has a market capitalization of Rs. 529051 crores in which the promoter group holds 57.59% shares and 42.41% shares are held by mutual funds, FII and others. The average daily turnover is 24.02 crore. The 20-day average volume of the stock is 188.55 lac shares.

• DLF

DLF has been involved in the construction and development of various landmark projects across major cities in India, including luxury residential complexes, office spaces, shopping malls, hotels, and townships. The company has a diverse portfolio that caters to different segments of the market, ranging from affordable housing to high-end luxury properties.DLF has a market capitalization of Rs 117478 crores. The promoter group holds 74.95% in the company while 25.05% is held by FII, insurance companies, and the public. The average daily turnover is 10.91 crore. The 20-day average volume of the stock is 68.59 lac shares.

• Mahanagar Gas LTD

MGL plays a crucial role in the distribution of natural gas in Mumbai, which is an environmentally friendly and cost-effective alternative to traditional fuels such as gasoline, diesel, and liquefied petroleum gas (LPG). The company has established an extensive pipeline network for the distribution of natural gas, covering various parts of Mumbai and its surrounding areas.Mahanagar Gas Ltd has a market cap of Rs. 10410 Cr in which the promoter group holds 32.55% shares while the remaining 67.45% stake is held by FIIs, mutual funds, institutions, and the public. The stock has an average daily turnover of 0.66 crore. The 20-day average volume is 7.56 lac shares.Here’s a quick video from our team on how you can select the Best Intraday Stocks:

Model Portfolio:

If one wants to bring down the watchlist to 10 stocks then the below stocks will be ideal candidates for intraday trading along with Nifty and BankNifty indices

Sr. No	Company Name	BSE Scrip Code	NSE Symbol	CMP -1st June, 2023	Rating
1	INDUSIND BANK	532187	INDUSINDBK	₹ 1284.95	4
2	MAHINDRA & MAHINDRA LTD	500520	M&M	₹ 1330.15	0.5
3	TATA CONSUMER PRODUCT	500800	TATACONSUM	₹ 794.25	2
4	TECH MAHINDRA	532755	TECHM	₹ 1,114.05	3
5	SUN TV	532733	SUNTV	₹ 447.20	4
6	NMDC	526371	NMDC	₹ 106.90	3
7	DIVIS LABORATORIES	532488	DIVISLAB	₹ 3475.20	4
8	STATE BANK OF INDIA	500112	SBIN	₹ 595.00	1
9	DLF	532868	DLF	₹ 482.65	0.5
10	MAHANAGAR GAS LTD	539957	MGL	₹ 1045.20	4

A detailed table with various parameters for the Best Intraday Stocks to buy:

Sr No.	NSE Symbol	CMP -1st June 23	BSE Scrip code	Rating	Industry	Market cap (Cr) -30th May 23	VWAP -30th May 23	20-Day Average volume	ATR - %
1	INDUSINDBK	₹ 1293.00	532187	4	Bank - Private	100344	1285.76	36.43	2.02
2	MAHINDRA & MAHINDRA LTD	₹ 1327.05	500520	0.5	Automobiles - Passenger Cars	1,65,196	1330.4	24.69	1.93
3	TATA CONSUMER PRODUCT	₹ 789.65	500800	2	Tea/Coffee	73475	791.66	9.04	1.31
4	TECH MAHINDRA	₹ 1099.75	532755	3	IT - Software	107023	1102.77	18.84	2.2
5	SUN TV	₹ 448.40	532733	4	TV Broadcasting & Software Production	17649	447.73	4.91	2.54
6	NMDC	₹ 107.25	526371	3	Mining & Minerals	31416	107.26	77.71	1.79
7	DIVIS LABORATORIES	₹ 3453.70	532488	4	Pharmaceuticals & Drugs	91799	3456	5.68	3.34
8	STATE BANK OF INDIA	₹ 592.95	500112	1	Bank - Public	529051	593.56	188.55	1.64
9	DLF	₹ 475.10	532868	0.5	Construction - Real Estate	117478	476.1	68.59	3.08
10	MAHANAGAR GAS LTD	₹ 1055.50	539957	4	Gas Transmission/Marketing	10410	1055	7.56	1.98
11	TATA MOTORS	₹ 519.15	500570	0.5	Automobiles-Trucks/LCV	172315	520.07	137.03	2.24
12	BAJAJ FINANCE	₹6998.00	500034	5	Finance - NBFC	424151	6976.61	9.4	1.49
13	JINDAL STEEL & POWER	₹523.85	532286	0.5	Steel/Sponge Iron/Pig Iron	53330	528.34	22.62	2.64
14	BHARTI AIRTEL	₹818.50	532454	4	Telecommunication - Service Provider	464392	820.42	53.99	1.65
15	AXIS BANK	₹935.15	532215	3	Bank - Private	288625	933.19	101.88	1.36

Our Collection of Best Stocks to BuyYou can check the live prices and trade India’s best large-cap stocks at the lowest brokerage with SAMCO, India’s leading discount brokerage. Open a Free Demat and Trading Account today!Enjoying the enriching blogs? Introduce your friends to Samco for a similar experience. Earn up to Rs. 6,200* per successful referral. Refer now and start earning rewards