Is there any successful or reliable strategy in intraday trading in Indian stock market?

Hi, I am planning to invest in intraday trading. I would really appreciate some help.

 

I really want to know about it, if there are any profitable strategy. Please help.

 

Intraday trading is the buying and selling of a set of shares on the same day before market closing. Intraday trading is also referred to as day trading. Intraday traders try to make a profit from the fluctuating share prices by selling and buying the shares on the same day. You have to closely monitor the changes in the share prices or any price movements to earn profit from stock trading. Intraday trading is riskier when compared to regular equity investments. You need to follow strong intraday trading strategies with patience to fulfill your targets.
Some tips for choosing stocks for intraday trading:
Select liquidity stocks: This is one of the important parameters in choosing shares for intraday trading. Choosing liquid stocks allows you to enter and exit trades at a stable price. you should avoid small-cap and mid-cap stocks that may not be liquid enough.

Patience: Without which you can’t earn any profit in trading. Invest your time and energy in this. Closely watch all the changes in the market and opt to trade.

Research: before deciding to purchase stocks of the company, do thorough analysis and research about the company details.

Volatility: The greater the volatility, the greater profit or loss you may make. Always prefer high beta stocks while doing intraday trading.

Consistency: Always stick to your strategy, Don’t just change it frequently. Change your strategy only if you find it unsuccessful even after many attempts.

Choose the right platform: It is important to choose the platform that offers quick decision-making, execution, and charges minimal brokerage.

Intraday Trading Strategies for Beginners:
Momentum Trading Strategy
Just as the name suggests, this strategy is to make use of the momentum in the market. One has to choose the right stock before any significant change in the market trends and invest accordingly. The choice of stocks depends on the latest news reports related to stocks, the announcement of takeovers, quarterly earnings, new projects, and more.

Breakout Trading Strategy
It involves identifying the trade which is going to trade in a new territory or has broken out of its usual territory. Traders have to find the threshold points at which prices increase or decrease at a specified time. If the stock price rise above the threshold point, traders consider buying stocks. else If the price drops below the threshold point, then you should consider selling stocks. That is, when share prices reach the threshold point, the trend will continue, and volatility would increase simultaneously.

Scalping Strategy
This strategy is most commonly used for buying and selling commodities. This focuses more on the minor price fluctuations in the market. Price action is the most significant factor in this strategy. You have to choose trades that are volatile and liquid. One should remember to put stop loss for every trade. Timing and accuracy are very important for this strategy.

Moving Average Strategy
This is also known as the moving average crossover strategy in the Indian Stock Market. According to this strategy, when the price of the stocks goes above or below the moving average it gives the signal of change in the momentum in the market. When the values go above the moving average, it is called the uptrend, and if the values are falling below the moving average, it is the downtrend. This is termed as one of the best trading strategies.
There are many intraday strategies available to earn profit in intraday trading. Only thing is, you have to understand them precisely and choose the most accurate one that suits your financial goals.