In intraday trading, the trader takes positions in the share market and closes them within the same day. Day trading helps you generate quick profits on rapid market fluctuations and swiftly executing orders in a day. For intraday success, making the correct trade at correct time is important. Professional traders study various charts to determine the price fluctuations of stocks and make well-informed decisions to buy or sell it to gain profits. Most of the traders refer trading charts for their short-term, medium-term or long- term analysis.

INTRADAY TRADING CHARTS

Trading charts are popular among day traders assisting them to gain the information about price fluctuation from the starting bell to closing bell of everyday trading session. The preferred share market trading charts to choose the best intraday trading time in India are mentioned below:

Two minutes charts: This is used to identifying opening range breakouts and day trade or scalping methods. Every candlestick shows the opening, closing, high, and low at intervals of every two minutes during the designated time frame.

Five minutes charts: For short or long term momentum trades, determining support and resistance levels, and recognizing intraday patterns, this chart might be helpful. It provides more background information than one-minute charts.

15 minutes charts: For day trades lasting an hour or longer, as well as many trading sessions, the 15-minute charts are commonly used. You can detect support/resistance indicators as well as important trends.

30 minutes charts: There is less clutter on this chart than on lower time frames, making it good for swing trading. You can gain important information on intraday levels of support and resistance. It gives extended background of the market.

Hourly charts: For the long-term intraday trend identification, the hourly chart is used by traders. Moreover, it is useful for observing the day’s wider support and resistance zones.

BEST TIME FRAME FOR BEGINNER TRADERS

The window of time between 10:15 am and 2:30 pm may be best timing for intraday trading for new day traders. Furthermore, the best time to take advantage to make trade is between 10:00 and 10:15 am, the optimal time frame for Intraday Trading, when morning stock volatility is less. Traders need to close out their intraday trading positions by 2.30 p.m., a significant amount of time ahead of the market’s official square-off times. By doing this, they can prevent themselves from being unnecessarily caught during periods of high volatility.

Trading during the First or Second Half

There are more trading chances in the first half of the trading session because of the frequent increased volatility and larger price fluctuations. Early in the morning, intraday stock swings are most significant, offering opportunities for gaining trading. There can be slower movement in the middle of the day, and trends might resurface just before trading sessions close. Therefore, you can trade anytime depending on your stock analysis.

Inadequate intraday timing results in trading against the state of the market, which can be frustrating and lose opportunities for profit. Therefore, choosing the appropriate time frames, understanding the best time for trading, and coordinating strategies with the condition of the share market are all necessary for successful intraday trading.