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Best Blue Chip Stocks For Intraday – Before we dive into which blue chip stock is better, let’s review what a blue chip stock is and what blue chip investing really entails.
Blue chips are stocks of large companies with significant financial bandwidth, significant market share, and a proven track record (and therefore strong brand equity). High revenue, profitability, and steady performance in stock value are some of the hallmarks of a blue-chip company.
Best Blue Chip Stocks For Intraday
It is a holding company with multiple affiliates in coal mining and trading, infrastructure, oil and gas exploration, gas distribution, electricity (including solar photovoltaic cells), airports, agricultural products and even data centers.
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The company focuses on consulting and digital services across industries – its segments include financial services, FMCG, energy, utilities, manufacturing, telecommunications, healthcare and more. Its products and platforms include Skava, LEAP, Panaya, and Finacle.
It is one of the largest banks in India and is 56.92% owned by the Indian government. Its segments include treasury, corporate/wholesale banking, insurance, retail banking.
The company focuses on the sale of paints, coatings, trim and sanitary ware among other residential amenities. Approximately 52.63% of the company’s shares are held by the company’s promoters.
The company is known for its contribution to the petrochemical industry in India. It has also witnessed tremendous growth in the retail market, financial services and digital services.
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The company focuses on retail and wholesale banking, treasury and other services. The bank offers accounts for women, accounts for the elderly, and insurance services.
It is one of the most respected companies and employs a large number of Indian graduates. Its business segments include digital and financial services, manufacturing, consumer retail, media, healthcare, etc., and has produced many well-known platforms such as TCS iON, TCS Omnistore, TCS BaNCS, etc.
It is one of the largest FMCG companies in India and also owns a huge hotel chain, paper and packaging business as well as significant investments and ventures in the agribusiness sector. Its well-known brands include Vivel, Aashirvaad, Bingo!, Fiama and Classmate.
It is one of the largest fast-moving consumer goods companies in India, producing detergents, water purifiers, food and beverages, deodorants, talcum powder, etc. Its well-known brands include Pepsodent, Clinic Plus, Lakme, Vaseline, Surf Excel, Knorr, Bru, Kissan, etc.
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HDFC is one of the largest privately owned commercial banks in India, providing wholesale and retail banking services as well as ancillary banking services such as credit cards and debit cards.
When investors choose to invest in a blue-chip company, chances are they are investing for a considerable period of time. Therefore, they should consider the following factors before investing –
Now that you have a clear idea of the best blue chip stocks for 2023, try investing some time and money in your favorite stocks. If you don’t have a demat account yet, try opening a demat account with Angel One, a trusted online stock broker in India.
Disclaimer: This article is for educational purposes only. Securities referenced are examples only and not recommendations.
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Please note that by submitting the above details you authorize us to call/text you, even though you may have signed up for Do Not Disturb. We will call/text you within 12 months. With thousands of stocks to choose from, day traders can pick almost any stock they want. Day traders execute a relatively large number of short and long trades in a single day to take advantage of intraday market price movements. Their goal is to profit from very short-term price movements. Therefore, the first step for a day trader is to figure out what to trade.
Once you have this information, though, you still need to understand the characteristics of these stocks, especially their liquidity and volatility, to choose the best stocks to trade. Once you’ve identified a trading opportunity (a stock, multiple stocks, or an exchange-traded fund, known as an ETF, etc.), the next step is to figure out some ways to profit from it.
Stocks with high liquidity tend to trade in high volume. This allows larger quantities to be bought and sold without significantly affecting price. Since day trading strategies depend on speed and precise timing, high volume makes it easier to enter and exit trades.
Best Intraday Stocks To Watch Out For On September 19
Depth is also important because it shows you how liquid a stock is at different price levels above or below the current market buying and selling price.
Day traders need price movements to make money. Day traders can choose stocks that tend to move wildly, whether in dollars or percentages. These two filters often produce different results.
Be aware that when volatility spikes, above-average profits can be generated, but you also run the risk of losing more money in a relatively short period of time.
While some specialize in contrarian trading, most traders look for stocks related to their industry and index group. This means that when the index or sector rises, the prices of individual stocks also rise. This is important if a trader wants to trade the strongest or weakest stocks on a daily basis. If a trader chooses to trade the same stock every day, it is wise to focus on that stock; there is no need to worry about whether it correlates to anything else.
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You may have picked the sweetest stock in the world, but profiting from it will depend on following a specific strategy. While there are many intraday strategies, it is important to stick to certain established guidelines. By looking for specific day trading signals, you are more likely to be successful.
The market always moves in waves, and it is the trader’s job to ride those waves. In an uptrend, focus on long positions. In a downtrend, focus on short positions. Intraday trends do not continue indefinitely, but one or two (sometimes more) trades can be taken before a reversal occurs. When the dominant trend changes, start trading with the new trend.
Isolating trends can be the hard part. Trendlines provide a simple and practical entry and stop loss strategy. The SPDR S&P 500 (SPY) chart below shows several short-term trends during a typical day.
More trendlines can be drawn while trading in real time to see the varying degrees of each trend. Drawing more trendlines can provide more signals and also provide greater insight into changing market dynamics.
Open High Low Strategy
To choose the best stocks for intraday trading, most traders will find it beneficial to look at stocks or ETFs that have at least a moderate to high correlation with the S&P 500 or Nasdaq. Then, isolate those stocks that are relatively weak or strong compared to the index. This creates an opportunity for day traders because when the index rises 1%, strong stocks can rise 2%. The more volatile the stock, the greater the opportunity.
When stock indexes and market futures move higher, traders should buy stocks that have risen more than the futures. When futures pull back, strong stocks don’t pull back as much (maybe not even pull back at all). These are stocks to trade in an uptrend, as they tend to lead the market higher, thus offering more profit potential.
When indexes and market futures fall, it can be profitable to short sell stocks that have fallen more than the market. When futures move higher in a downtrend, weak stocks don’t rise as much (or at all). Weak stocks offer greater profit potential when the market is falling.
Stocks and ETFs that outperform or underperform the market can change from day to day, although certain sectors can be relatively strong or weak for weeks at a time.
Blue Chip & Penny Stock
The chart below compares the SPDR S&P 500 to the SPDR Select Technology Fund (XLK). Compared with SPY, the blue line XLK is relatively strong. Both ETFs were higher throughout the day, but since XLK rose so much on rallies and fell slightly less on pullbacks, it was the market leader and outperformed SPY on a relative basis. If you’re going to buy something, choose the strongest investment possible.
The same goes for short trades. Short sellers should isolate relatively weak stocks or ETFs. That way, when prices fall, you are more likely to own the stocks or ETFs that have fallen the most, increasing the profit potential of the trade.
Trendlines are only approximate visual guides of where price swings start and end. Therefore, when picking stocks intraday, traders can use the trendline to get ahead of the next price wave in the direction of the trend.
When entering a long position, buy after the price moves towards the trendline and then back up. To draw an uptrend line, a low and then a
