How to earn ₹1000 per day from the stock market

Anyone who enters the stock market hopes to earn good money because it can give better returns than many other options. The majority of visitors to the stock exchange wonder, "How to earn ₹1000 daily in the stock market?" However, due to lack of skills and experience, many are unable to do so. 

While it offers the potential for higher returns compared to other investment options, the stock market is also influenced by various domestic and global factors, making it unpredictable. 

Whether you start small with ₹1,000 or invest larger sums, the stock market offers opportunities. However, there are no guarantees. The journey to earning consistent profits involves adopting the right strategies and managing risks effectively.
 

Different Ways to Earn in the Stock Market in India in 2024

● Intraday Trading: This involves buying and selling stocks on the same day to profit from price fluctuations. To succeed, focus on stocks with good liquidity and volatility. Look for stocks making news due to earnings reports or major announcements, as these are more likely to experience significant price movements.

● Futures & Options: Futures and Options are advanced trading instruments in the derivatives market. Their value is tied to the underlying stock price, such as the cost of Reliance futures is determined by the value of Reliance shares, the cost of ICICI futures is determined by the ICICI share price, and so on. While F&O trading can generate significant profits, it comes with higher risks and requires a thorough understanding of the market.

● Swing Trading: Swing trading is the practice of entering a transaction to retain it for a couple of days. Swing trading will not yield a daily profit of ₹1000, but if your transaction is successful, you may reach your target profit within a few days.

For those wondering how to earn ₹1000 daily in the share market, it's essential to choose stocks with good liquidity and volatility, ensuring quick price movements.
 

How to earn ₹1,000 per day from the share market?

If you want to make a profit every day, intraday trading is the route to go. Intraday trading entails purchasing and selling equities on the same day. Purchasing stocks should not be an investment but a means to benefit from price swings in the stock market. If you're wondering how to earn daily ₹1000 rupees in the share market, you can consider the following steps:

• Choose a few stocks to focus on.
• Before taking any action, monitor the performance of these stocks for at least 15 days.
• During this time, examine the stocks in several methods using indicators, oscillators, and volume. Supertrend and the Moving Average are two of the most often utilized indicators. You can use oscillators such as Stochastics or the Relative Strength Index.
• If you monitor your target stocks during market hours daily, you will achieve a high degree of precision in a matter of days. You will be better able to comprehend price changes.
• You may now determine the entry and exit points based on the indications you utilized and your research.
• Before you invest, you should also decide on a stop loss and an objective.
   

What are the rules?

If you're pondering how to earn ₹1000 per day from the share market, the techniques listed below should help you earn money from stocks if you adhere to them.

Focus on high-volume stocks

The first guideline of trading stocks is to focus on equities with high volume or liquidity. The number of shares that pass from one hand to the other during a day is referred to as "volume," and because the place must be shut before the trading hour ends, the stock's liquidity affects the likelihood of benefit. Take the time to investigate the stocks in which you intend to invest thoroughly. 

Following your conclusion, you should evaluate the analyses and viewpoints of others. Invest in such stocks or indexes only if you have faith in their performance. Make a list of eight to ten stocks in which you wish to invest and begin investigating them. Before you invest, keep a close eye on how the values of these stocks move.

Leave your greed and fears at the door 

In the stock market, two unforgivable rules must be avoided at all costs. Traders' judgments are frequently impacted by emotions like greed and fear. It's preferable if you can take these psychological elements in mind when making trading selections. They can force traders to chew more than they can handle, which is never a beneficial move. 

It is vital to choose a few stocks and focus oneself entirely on them. No trader will earn a profit every day. If you keep chasing the illusion, you will eventually disappoint yourself. So when the wind blows against you, you will have no option but to lose. You should always be conscious of the restrictions and attempt to adhere to them as an intraday trader.

Maintain consistent entry and exit points

These two major pillars underpin the stock market. As a trader, one must classify these points accurately. Only when you've finished this will you think about generating a profit. Before placing a purchase order, consider the portfolio's entry point and price goal. The price goal is the cost at which it is properly priced after considering its past and predicted earnings. 

If the company is trading below its goal price, this is an excellent moment to buy since you will profit when it returns to or surpasses its target price. Maintaining a fixed entry and exit point will also discourage you from trading your stocks as soon as their value rises. As a byproduct, you may miss a greater profit chance if the stock price rises. Fear and greed can be alleviated by maintaining fixed entrance and exit locations, which eliminates a portion of the complexity of the task.

Use a Stop-Loss Order to Limit Your Loss

One of the most important parts of intraday trading is the stop-loss. A stop-loss intends to restrict a trader's losses. Stop-loss orders can help you reduce your losses, therefore, you should employ this approach often. 

Stop losses are essential for intraday traders who do not want to lose significantly. Set a stop-loss order that is appropriate to your target. As a beginner, put your stop-loss at 1%. An example will help you grasp this better. Assume you acquire shares in a firm for Rs 1500 and set your stop-loss at 1% at Rs 15. 

As a result, as soon as the price falls to Rs. 1,480, you close the trade, preventing additional loss. This can help maintain your losses under control, making it simpler to reach your financial objective. How does a stop loss function? The stop loss is established so that when the prices fall below a certain limit, the trigger is triggered, and the stocks are automatically sold. 

So, if you wish to limit your possible loss if prices suddenly decrease, this is a highly useful technique.

Observe the Trend

Following the trend is your greatest bet for generating profits when it comes to intraday trading. Is it reasonable to predict pattern reversals in a single day? It is improbable that making trading decisions based on the probability of a trend reversal will result in profits most of the time.
 

How to Earn ₹1000 per Day from Share Market- From Multiple Trades with Small Profits?

Earning ₹1,000 per day from the stock market through multiple trades with small profits requires a disciplined approach. Focus on intraday trading in highly liquid stocks or indices like Nifty and Bank Nifty, where price movements are frequent. Use strategies like scalping or momentum trading, aiming for small, consistent gains across several trades. Set realistic profit targets and strict stop-losses to limit risk. Always start with a small capital, trade with proper risk management, and avoid over-leveraging to protect your investments.

Some psychological elements, such as fear and greed, also influence the stock market. So try not to fall into the trap. Making a modest profit on several trades may be the greatest approach for making money in the stock market.
 

Synchronise Your Moves with the Market

The marketplace is not completely predictable; even experienced specialists using sophisticated technologies are unable to forecast market moves. There are instances when all the chart patterns point to a bull market, yet there may still be a fall. Some of these criteria are only suggestive and do not promise anything. If the market swings against traders' predictions, it is best to quit the position to prevent significant losses.

Stock returns might be quite rewarding, but generating lesser profits by using these intraday tips and advice must be adequate. Intraday trading gives higher leverage, allowing for decent gains in a single day. Being satisfied is essential for success as an intraday trader. Profit and loss occur almost instantaneously in the stock market. One cannot prevent loss. It is included in intraday trading. Making a profit is not always difficult if you have the necessary knowledge and expertise.

7 Steps to Start Stock Trading Like a Pro in 2024

• Create a trading account and deposit funds.
• Select trending stocks using finance websites/apps: Follow reliable finance blogs or platforms like ET and Moneycontrol for market news and to spot trending stocks. These sites usually list "Hot Stocks" or "Stocks in the News" before market hours.
• Choose three trending stocks to trade and analyze their price charts.
• Form an opinion about the stock you want to trade: For example, I decided to trade a stock that showed strong potential based on recent market trends. I also steered clear of stocks that had already made significant gains in the past few days, as I was uncertain whether they would continue to rise.
• Determine the right entry/exit levels and place the trade: Before making a trade, observe the price chart to see how the market is reacting to the latest news. Here are some simple guidelines that may help you determine trade levels:

          a. Avoid trading in the first 15 minutes of market opening. Observe the initial candles first.
          b. Wait for 2-3 consecutive green candles before buying a stock.
         c. Set your stop loss 1-1.5% below the purchase price.
         d. Exit the trade if you observe three consecutive red candles.

• Place trades once you've gained confidence.

Additionally, how to earn ₹1000 daily in the stock market can depend on adopting risk management practices, studying technical analysis.
 

Trade Wisely: Understand the Risks and Stay Informed

It's important to remember that trading in the stock market carries inherent risks. While there is potential for high returns, there is also the possibility of significant losses. Additionally, the Securities and Exchange Board of India (SEBI) regularly updates its rules and regulations to ensure fair practices and protect investors. Therefore, it's crucial to stay informed about these changes to avoid any legal or financial pitfalls.

Trading is a skill that can be learned over time, but it requires patience, discipline, and continuous learning. Always approach the market with caution, and consider practicing with a demo account or starting with a small investment until you gain more experience.