Buy Intraday Shares In Groww App

Investing in the stock market has gained massive popularity, and platforms like the Groww app have made it incredibly easy for people to buy and sell shares. One of the most exciting ways to trade stocks is through intraday trading, where you buy and sell shares on the same day. Intraday trading can be both rewarding and risky, so understanding how to navigate the process is essential.

This blog post will guide you step-by-step on how to buy intraday shares in Groww app, from creating your account to executing successful trades. Whether you’re a beginner or an experienced trader looking for a fresh perspective, this post will give you all the information you need.

Intraday Trading in Groww App

Intraday trading refers to buying and selling shares within the same trading day. The goal of intraday trading is to take advantage of small price movements in the stock market to make quick profits. Unlike long-term investments, intraday traders don’t hold onto stocks overnight. Instead, they close all their positions before the market closes. Intraday trading is particularly appealing to those who want to see immediate returns and are willing to take the associated risks.

The Groww app, with its user-friendly interface and minimalistic design, offers a seamless experience for intraday traders. You can easily navigate the platform, find stocks, and make trades within minutes. In this post, we will explore how to buy intraday shares in Groww app and take full advantage of its tools and features to maximize your trading potential.

Setting Up Your Groww Account

Before you can start trading, you need to have an account with the Groww app. Here’s how to set it up:

1. Download the App: The first step in learning how to buy intraday shares in Groww app is downloading the app from either the Google Play Store or the Apple App Store. The installation process is straightforward.
2. Sign Up: Once you’ve installed the app, sign up by entering your basic details such as your name, email, and mobile number. After that, you’ll receive a verification code to confirm your identity.
3. Complete KYC (Know Your Customer): For regulatory purposes, you will need to complete KYC. This usually involves uploading proof of identity (such as an Aadhaar card) and a photograph. The KYC process typically takes a few hours or a day to complete.
4. Link Your Bank Account: Finally, link your bank account to your Groww profile. This will allow you to transfer funds for buying stocks.

Once your account is set up, you are now ready to dive into the world of intraday trading.

Enabling Intraday Trading on Groww

Now that your account is set up, you need to enable intraday trading. This step is essential because intraday trading requires different permissions compared to regular long-term stock purchases. Follow these steps:

1. Go to Settings: Open the Groww app and navigate to the settings option in your profile.
2. Enable Intraday Trading: You’ll find an option to enable intraday trading. Once enabled, you will have access to features like margin trading, which is crucial for day traders.
3. Check for Intraday Margins: One of the advantages of intraday trading is the margin facility. Groww offers intraday margins that allow you to trade with more money than you have in your account. Make sure you understand the margin terms, as this can amplify both profits and losses.

Now, your account is fully set up for intraday trading, and you can start buying and selling shares on the same day.

Searching for Stocks for Intraday Trading

Once your account is ready, the next step in understanding how to buy intraday shares in Groww app is to find the right stocks. Intraday trading requires careful selection of stocks that have sufficient liquidity and volatility. Here’s how to search for the best stocks:

1. Open the Stock Section: After logging into the Groww app, navigate to the “Stocks” section.
2. Use Filters: The app allows you to filter stocks based on various parameters such as market capitalization, price, and sector. You can also check which stocks have high trading volumes, as these are often the best for intraday trading.
3. Watchlists: Groww allows you to create a watchlist of your favorite stocks. Add stocks that you want to monitor throughout the day, and watch how they fluctuate.
4. Stock Analysis Tools: Before buying any stock for intraday trading, make sure to analyze its recent performance. Groww provides various stock analysis tools, including charts, historical data, and indicators like Moving Averages (MA) and Relative Strength Index (RSI). Use these tools to identify stocks with upward or downward trends.
5. News and Market Sentiment: Intraday trading is heavily influenced by news and market sentiment. Groww has a news section that helps you stay updated on current events affecting stock prices.

Selecting the right stock is a crucial step in intraday trading. Once you’ve chosen the stock you want to trade, it’s time to place an order.

Placing an Intraday Order in Groww

Now that you’ve identified the stock you wish to trade, the next step is to place an intraday order. Here’s how to buy intraday shares in Groww app:

1. Select the Stock: From your watchlist or the stock search feature, select the stock you wish to buy.
2. Choose “Intraday” as Your Order Type: When placing the order, you will have to select the “Intraday” option instead of “Delivery.” Delivery means you’re purchasing the stock for long-term investment, while Intraday is for buying and selling on the same day.
3. Enter Quantity and Price: You’ll be asked to enter the number of shares you wish to buy and the price at which you want to buy them. You can choose between “Limit Order” (you set a specific price) or “Market Order” (the order is executed at the current market price).
4. Check Margins: If you’re using margin trading, double-check the margin amount and ensure you’re comfortable with the leveraged position. Margin trading can significantly increase both your potential profits and losses.
5. Set a Stop-Loss: A stop-loss is essential in intraday trading. This is a preset level at which you will automatically sell the stock to limit your losses if the price moves against you.
6. Place the Order: Once you’ve reviewed all the details, place your order. Your order will be executed in real-time or as soon as the stock hits your desired price.

Placing an intraday order is quick and easy on the Groww app. However, you must monitor your positions closely throughout the day.

Monitoring and Managing Your Trades

One of the most important aspects of intraday trading is actively managing your trades. Since positions need to be squared off before the market closes, keeping track of your investments is essential. Here’s how to monitor your trades in the Groww app:

1. Live Tracking: Groww provides real-time tracking of your orders. You can see the current status of your trade, including whether it has been executed or still pending.
2. Track Stock Movements: Keep an eye on how the stock is performing throughout the day. Sudden market movements can affect your intraday trade, and Groww’s live charts and performance metrics make it easy to track.
3. Manage Stop-Loss and Target Levels: After placing your intraday trade, continuously monitor your stop-loss and target levels. If necessary, adjust them based on market conditions to ensure your trade remains safe.
4. Use Alerts: Groww allows you to set alerts for stocks that notify you when a stock reaches a certain price level. This feature can help you stay updated without needing to stare at the screen all day.

Effectively managing your trades is key to becoming a successful intraday trader.

Exiting Your Intraday Positions

Exiting your trades is as important as entering them. Here’s how to ensure you close your positions profitably:

1. Sell Before Market Closes: Intraday positions must be closed before the market closes. On the Groww app, you can manually close your position by going to the “Orders” section and selecting the “Exit” option.
2. Automatic Square-Off: If you fail to close your position manually, Groww automatically squares off all intraday trades by the end of the trading session. However, it’s better to do this manually to avoid any unforeseen issues.
3. Profit and Loss Calculation: Once your position is closed, the app calculates your profit or loss instantly, and the amount is updated in your account balance.

Exiting the trade at the right time is crucial for maximizing your profits and minimizing losses.

Conclusion

Learning how to buy intraday shares in Groww app is a straightforward process that becomes easier with practice. From setting up your account and enabling intraday trading to selecting the right stocks and managing your trades, the Groww app offers a user-friendly interface that simplifies the complexities of intraday trading. While the potential for quick profits exists, remember that intraday trading carries higher risks compared to long-term investing. Always use tools like stop-loss orders to manage your risk, and stay updated with the latest market news.

Have you tried intraday trading on the Groww app? Share your experiences or ask questions in the comments section below!