Five Simple Tips To Pick Stocks For Day Trading

Just having all the important qualities required to succeed as a day trader won't help; proper selection of stocks for day trading is equally important. Generally day traders fail because they don't select a proper stock for day trading.

Certain rules that can help you in selection of stock for day trading are discussed here. These rules can be digested quickly to help you avoid the biggest pitfalls in trading. These rules include:

* Trade liquid stocks
* Avoid unpredictable (chaotic) stocks
* Trade stocks with good correlation
* Move with the trend
* Research

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Indian rupee steady tracking firm stocks; weak dlr

MUMBAI, June 10 - The Indian rupee was largely steady in afternoon trade on Wednesday, rising for the second straight day, as a firm stock market renewed hopes for more inflows and the dollar's weakness versus majors also supported.

• At 2:20 p.m., the partially convertible rupee was at 47.25/26 per dollar, stronger than Tuesday's close of 47.48/49. It dropped to a low of 47.80 in early trade, its weakest since May 28.

• The dollar eased on Wednesday as investors shifted from the U.S. unit toward perceived riskier and higher-yielding assets on views the global economy and financial system are improving. [USD/]

• Indian shares <.BSESN> extended gains to 3 percent on Wednesday afternoon, tracking strong markets across Asia and Europe on a rally in oil and metal prices amid signs of a global economic recovery. [.BO]

• Dealers said there was some dollar demand from oil refiners which was limiting the rise for the rupee.

• In the currency futures market, the most traded near-month contract on the National Stock Exchange and MCX-SX was quoting at 47.365 and 47.3675 respectively, with the total traded volume on the two exchanges at about $500 million.

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