Is scalping illegal in trading?

I am new to trading. I would like to know if scalping is illegal in trading. By scalping I mean, buying and selling shares on the NSE for a very small margin, like five paisa.

Are there any rules that I need to adhere to while trading on the NSE exchange? Any links to the official website in this regard are appreciated.

Thanks.

Welcome to the world of trading, and welcome to the reality. Scalping is not illegal, and you can scalp to your hearts content upto close of trading, where you need to square off your positions, if not holding enough margin. Other than that, you need to ensure the 5/10/15/50 paise scalp etc. is profitable considering brokerage, taxes etc, for which you will need a discount broker - check out on the same on different thread. Also, for scalping will require you to trade in heavily liquid stocks or index to ensure fill at the right price.

As you are a newbie, only ensure that you are the scalper and not the scalpee.

Good luck.

Thank you DSM for your reply.

I am still not sure if scalping is legal. If it is, then why are not many people doing it? I mean, you can generate guaranteed profits by scalping. Are there any risks that I am not aware of, other than to close out the positions at the end of the day?

Also, can you point to me to some link on the NSE, BSE or SEBI site which has information on the Do's and don'ts. Thanks.