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?
Stocks in F&O segment are widely watched by market participants and strong hands (Fund Managers, HNI, etc), there is absolutely no scope for price manipulation by market operators, circular trading is impossible and most of the time these stocks move in the direction of market.
 
2. Look for the stocks which had minimal price movement in last 1-2 days
When a spring is compressed, it exerts an opposing force. The mechanical energy of  the spring holds good for stocks also. In technical analysis main assumption is that “Price of a stock factors in all the information which is in public domain”. If the stock price has minimal price movement it means the market is expecting some news from the company, government policy, election results, etc. Once the news is out to the market participants then the stock has tendency to move in a particular direction depending on whether the news is positive or negative. There are many ways to find the minimal price movement like Inside Day, Narrow Range 4, Narrow Range 7.
 
3. Entry, Exit and Stop Loss
Trade Entry is relatively less emotional in these trades because you have already  shortlisted the stocks and anticipating the big movement in these stocks. 
Long Entry : On breakout of previous day high, place buy order at previous day High.
Short Entry : On breakdown of previous day low, place buy order at previous day Low.
Trailing Stop Loss : Once the stocks breaks out/down it is extremely important to protect the profit and exit the position.