25th June 2022

How to Select Stocks for Intraday Trading – Beginners Guide

How to Select Stocks for Intraday Trading

In this post , lets see how to select stocks for intraday is to trade on stocks which have high volume and high Open interest gainers and losers . Open interest means total number of outstanding futures and options contract all combined.

If the stock price is moving up with increase in open interest , then traders are bullish on stock and taking long positions. However if the price of stock is going down with increase in open interest then traders are building short positions in that stock (bearish on stock) . Such stocks can be shorted when some trading conditions are satisfied.

For example If there is a stock down 1% with 10% increase in Open interest , it means short positions are build up. Now when that stock crosses yesterdays low, there is an opportunity to short the stock. Similarly if a short built up stock crosses pivot point R1 below , there is opportunity to sell that stock (short). See in chart below and you can see MCX open interest was up 10% and it crossed yesterdays high. SO we buy with R2 as target and days low as stop loss. R1,R2 are standard pivot points

Similarly if a stock is up 1% with increase in open interest 5% , and it crosses yesterdays high, you can buy that stock . You can find long buildup stocks and short build up stocks from our screener

This is one of the strategy which can help you to select stocks for intraday. We will be adding More intraday trading strategies for beginners soon.

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  1. Pingback: Good Stocks for Profit in Intraday Trading – intradayscanner


  1. Eklavya Upadhyay Reply

    Thanks for the amazing info that you provided in this article. Loved it. I hope you will post more meaningful articles in the near future. You are amazing. Keep up the good work. Because it influences a lot of people in a good way. Thanks again. Have a nice day!!

  2. Vrushali Mehta Reply

    Please make more blogs for use of your site means by using your site how we select stock for short term specially in future contract.

    I am using site since month but unable to select stock. also make shortcut of your all blogs

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