Well, earlier Groww services platforms were limited to investment in long-term assets and mutual funds. But, now Groww also offers Intraday Trading. In this article, we will explain how to do intraday trading in Groww App step by step.
Groww is a discount broker registered on NSE and BSE that allows trading in their official web trading platform and Groww App.
What is Intraday trading?
Intraday Trading (also known as day trading) means buying and selling financial instruments (shares, futures, options) within the same trading day. Intraday trading is good for those who want to capture short-term price movements in the market.
Also Check: How Much Do Day Traders Make Per Month 2024? | Can Intraday Make You Rich? | Day Trader Salary
Can I do intraday trading on Groww app?
Yes, you can do intraday trading on Groww App. Earlier, Groww was primarily focused on providing a platform for long-term investments in mutual funds and stocks. However, now they have expanded their services to intraday platforms also.
Zerodha, Upstox, and Groww Comparison 2024
How to do intraday trading in Groww App?
Step 1: Open a demat account with Grow
Step one to start with how to do intraday trading in Groww App is to open a demat account with Groww https://groww.in/open-demat-account.
Open Groww Demat Account Today
Step 2: Download and Install the Groww App
Download the Groww App and install it on your smartphone. Create your account by using the demat login credentials.
Step 3: Add funds to your account for trading
Now, you need to add funds to your Groww app to start trading. For that, you can link your bank account to the app and transfer funds.
Step 4: Search for stocks to trade
7 Best Youtube Channels For Trading In Stock Market Beginners In India 2024
Click on the “Search Groww” bar and write the name of the stock. Once you get that in search, click on the stock name and a new window will open to buy or sell shares. Look for stocks with high liquidity and volume for intraday trading.
Step 5: Analyze market depth and Charts on Groww App
The Groww App offers various types of charts, including candlestick charts and line charts. Use these tools to analyze the price movements of your selected stocks. Technical indicators like moving averages, Relative Strength Index (RSI), and Bollinger Bands can also help you identify trends and potential entry and exit points.
Step 6: Place Buy and Sell Orders
Once you’ve identified a suitable stock and are confident to trade, it’s time to place your orders. The Groww App allows you to place orders:
- Market orders – Market orders allow you to buy or sell at the current market price.
- Limit orders – Limit orders allow you to buy or sell at a specific price. Here you can set your desired entry and exit points and confirm your order.
- Stop Loss – A stop-loss order automatically sells your shares if the price moves against you by a certain amount.
Note: Make sure to set Stop-Loss and Target for each trade to manage risk.
Step 7: Monitor Your Trades
So, now you have executed your trades. Time to monitor the market and your positions at Groww App.
How to buy and sell shares in Groww App?
It is a simple and quick process to Buy and Sell shares in Groww App with the below steps:
1. Log in to the Groww app with the credentials you have received at the time of opening the Groww demat account.
2. Search and select the stock in the search bar. Simply write the name of the stock and it will appear.
3. After selecting the stock you want to buy/sell, click on the buy/sell button (depending on what position you want to choose) and fill in the quantity and order price (market order or limit order). Now, confirm the order.
11 Best Intraday Trading Books for Beginners (Hindi & English)
Which indicator is best for intraday trading in Groww app?
1. Moving Average: A Moving Average (MA) is the best for intraday trading in Groww app that helps to identify trends. The indicator calculates the average price over a specified number of time periods (e.g., days, hours, minutes) and shows the average price on the price chart.
2. RSI – Relative Strength Index: The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI ranges from 0 to 100. An RSI value above 70 indicates that a security is overbought while an RSI value below 30 shows that a security is oversold.
3. Bollinger Bands: Bollinger Bands are made up of three lines: a middle line that is typically a 20-period moving average (SMA or EMA), and two outer bands that are typically set at two standard deviations away from the middle line. The indicator helps to identify overbought and oversold conditions.
4. Stochastic Oscillator: The Stochastic Oscillator is a momentum indicator that compares a security’s closing price to its price range over a specific period of time. The indicator helps identify potential overbought (above 80) and oversold (below 20) conditions.
5. Super Trend: Super Trend is one of the popular indicators for intraday trading in Groww that helps identify the current trend direction in a market. The indicator considers volatility and provides support and resistance levels.
What is intraday trading charges in Groww?
| Account Type | Groww Intraday Brokerage Charges |
| Equity Delivery | Rs 20 per executed order or 0.05% whichever is lower |
| Equity Intraday | Rs 20 per executed order or 0.05% whichever is lower |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Intraday Margin | Up to 5x |
| Intraday STT | 0.1% (buy and sell sides) |
How to Earn Rs 1000 Per Day in Share Market in India 2024?
Conclusion on How to Do Intraday Trading in Groww App
Intraday trading on the Groww App offers a user-friendly platform. It is quite simple to do intraday trading in Groww App by just following the simple steps. However, make sure to be aware of the risks involved in Intraday Trading. Remember, successful intraday trading takes time, practice, and continuous improvement.
