If you are thinking that someone should tell you 2–3 Stocks every morning and you can simply Trade in those Stocks and make money, then perhaps you are asking the wrong question.
The real question is not which Stock is good.
Because Intraday is Bi-directional Trading.
You can take a Trade in a falling Stock and make a Profit, and you can also buy a rising Stock and make a Profit.
So, for Intraday, all Stocks are good.
Because there is no movement outside the Market.
Think About a Vehicle Stand
Suppose you want to travel in the north direction.
There is a stand nearby where 100 vehicles are parked every day.
All of them have engines.
All of them have tyres.
All of them have drivers sitting inside.
And all of them can be driven by their drivers.
When you enter the stand, you find that some vehicles have already left. Some are about to leave.
Will you simply go and sit in any one of them?
No?
Because even though all the vehicles are in good condition and all the drivers are experts, not every vehicle will go in the direction you want to travel.
Right?
So, you will first confirm which vehicle is going in your direction.
And even among those, which one will leave according to your timing, so that you don't reach your destination late.
Right?
Intraday works in the same way.
You don't have to find which Stock is the best.
This is the difference between Investment and Intraday.
4 Things I Look at for Intraday
When selecting a Stock for Intraday, I look at 4 things:
A Stock where there is more activity than usual has a higher possibility of something happening.
When NIFTY is weak and a Stock is still staying strong, or when NIFTY is strong and a Stock is continuously staying weak—that Stock can be worth watching.
If even you cannot understand where the Support and Resistance are by looking at the Chart, then the Trade may not be clear either.
You want a Stock where Entry and Exit can happen easily and where there is enough Movement as well.
The Biggest Psychological Trap
Many people don't catch a Stock that is moving.
They try to catch a Stock that has already run.
A Stock moves 2% up in the morning.
Then 4%.
Now everyone's attention is on it.
Then at 6%, people start thinking:
“Now this must be the best Stock!”
In reality, many times that Stock is not the best opportunity.
It may simply be the opportunity that came to you the latest.
A Stock that has already moved the most is not always the best Trade, and a Stock that looks quiet is not always useless.
A good Stock for Intraday is not the one whose name is being talked about everywhere.
Rather, a good Stock is the one where, according to your Setup, there is a clear Entry, clear Stop Loss, and a clear possibility.
Because in the end,
Profit will not be made because of the Stock's name.
It will be made through your right selection and right Execution.