One of the big questions that come to every intraday trader’s mind every single day is to find the right stock for intraday trading. After all, the key to successful trading is the right selection of stocks. There are a number of factors that should be taken into consideration at the time of stock selection. There are so many listed shares but it isn’t necessary that they can be chosen for intraday trading. Take a look at a few tips mentioned below which highlight on

how to pick stocks for intraday trading? :

Shares Volume

One of the main criteria while intraday trading is the volume of the stocks. The total number of shares that are traded in a particular market at a given time reflect volume. It is mostly recommended to purchase stocks that are high in volume.

Stocks of the day

Depending on good news, a few stocks are expected to perform well. Such stocks are anticipated to move in either direction with good volume. These shares can be used for intraday trading.

Week’s movement

Study the movement of stocks that are constantly closing in negative or positive for the previous one week. An analysis of this movement will help you in selecting the stocks for intraday trading.

Resistance level

Some of the stocks to watch out for are those that have broken resistance levels and which move in an upward direction. Such stocks are one of the favourite choices.

Trading in few stocklists

A few intraday traders involve in trading only in particular shares. This is because these traders engage in detailed study of share movement. This is one of the main intraday strategies that are followed by traders.

Top gainers and losers

While some shares come under top gainers, others come under top losers.  Such shares may provide fairly good movements. However, keep a close watch on these them in order to begin trading.