How to pick stocks for intraday trading?

Most beginners in stock market thinks making money in intraday trading is easy and cool. This is a wrong perception it is very difficult to trade and make money in intraday trading.
Disclaimer / Alert :
Intraday trading is injurious to wealth and health
1. Trade only in liquid stocks i.e stocks traded in F&O Segment 
Why only stocks traded in F&O?

Trading Holidays for NSE, BSE & MCX

Sl. No Holidays Date Day
1 Republic Day January 26, 2017 Thursday
2 Mahashivratri February 24, 2017 Friday
3 Holi March 13, 2017 Monday
4 Ram Navami April 04, 2017

Muhurat Trading on Diwali

NSE and BSE announces ‘Muhurat' trading session on Diwali October 30.

Dr Elder's Triple Screen Trading System

I often get emails asking how to pick stocks for trading and when I ask them about current trading system they show moving average crossover system, MACD crossover system, ADX or RSI. Trading using a single indicator on a single time frame is very risky as the market is very dynamic and complex. Trend following indicators are profitable when market is moving in a particular direction but it will lead to whipsaws in range bound market. Oscillators are profitable in range bound market but gives early exit signal if market trends in a particular direction.

Elections results and Nifty behaviour


It is very difficult to trade the uncertainty of election results. Below is the brief snapshot of market behavior on election results which were held in last 5 years. 

Major elections held in last 5 years:

Nifty may bounce back for few days


After continuous 5 days of loosing days, yesterday (02-Nov-2015) Nifty retraced from days low 7995 and managed to close above 8050. The interesting fact is yesterday Nifty retraced back during the last few minutes of the trading session. Short bounce back is expected for few days. 

Candlestick Patterns : Hammer pattern indicates a short term reversal is expected.    

ChartNexus - Free Technical Analysis Software


If you are new to technical analysis then ChartNexus technical analysis software is the best place to start. The basic version of chartnexus is free, one can analyze stocks traded in more that 16 stock exchanges.

Advantages of ChartNexus :