How to go about identifying a stock trend to trade intraday?

The most difficult job in the stock market is to stick your neck out and put your finger on a strong trade. Any error in judgment means huge losses. Also, remember that in the highly volatile market, the trend is short lived. It makes the job of stock selection more difficult. Sometimes, the stocks that you identify for short selling rise on the day of trade. Therefore, it is important to identify a definite trend in the stock to make money. This trend can be uptrend or downtrend. As an intraday trader, you have the luxury of trading either ways. Intraday Trading based on weak trend may result in losses.

There may be days when you will not find stocks with strong trend therefore simply back out from Intraday Trading. In short, you should not trade just for the sake of trading. It is said that not trading is as important a decision in intraday as trading as what to trade. Also, specialize on when not to trade. As a golden rule, you should initiate Intraday Trading only if you identify stock with a strong trend. There are a plethora of measures that can help you identify and reinforce such trends. Some of key such measures include Open Price, pre-market price trend, volumes in number of shares, volumes in value, percentage of delivery, intraday price movement, cues from open interest / OI shifts, cues from put-call ratio (PCR), VIX values, stock volatility, price range of the stock, key pivot points etc. Of course, this list is not exhaustive but can give you a broad idea of the breadth of indicators that you need to consider before taking an intraday position.