InvestorQ : Can you tell me about some chart specific indicators to consider for intraday trading?
Neelam Naik made post

Can you tell me about some chart specific indicators to consider for intraday trading?

Dhwani Mehta answered.
3 years ago
Picking the right stocks might seem like a challenge. But it is not as compelling as it is made out to be. The complexity should not deter you from exploring wealth creation opportunities in the stock market. Here are a few criteria which will simplify the process. Firstly look at stock volumes as a key indicator. One of the major criteria when doing intraday trading is the volume of the equity shares. Volume is indicated by the total number of shares which are being traded in a given market at a particular time of the day. By simply looking at the screen you may not be able to find out the stocks which are high in demand. Share volume helps you to shortlist the stocks which are being purchased in high volumes. Volumes not only indicate the extent of investor interest and trader interest in a stock but also the stocks where the intraday trades can be put through safely.
You can also consider the established resistance levels and the support levels of a stock. Resistance level refers to a price beyond which an equity share is not able to rise. The stiffer the resistance, the better it is an indicator. The primary reason for this behavior could be an overwhelming level of supply of the equity share at the particular price level in the market. It could be a historical reason as the stock has normally faced resistance at that price. As an intraday trader, you may look out for which have broken resistance levels and are moving northwards. Or you can trade stocks that are facing resistance and hence can be shorted. A related measure is the support is the lower end of the price chart. Either you sell a stock that breaks through support with volumes. You can also consider as a buying signal if the stock constantly bounces back from the support level.