Hello,
Aptly written steps and additions are very good to basic steps.
IMO, Day traders should strictly look into 3 scripts in total which is having a move of some paisa above brokerage. e.g. take the case of UTTAM STEEL. IF you see that the price is moving in the range of 60-70 paise, you can safely play with good quantity and make good profit with appropriate stop loss. For day trading, it is better to look for scripts which will not attract brokerage of above 25-30 paisa for ROUNDTRIP (i.e. buy and sell together) so that margin of 70-80 paise can give 45-50 paisa profit. I would take chance in the morning itself and cover before 10.10 even if in loss. Then concentrate on the swings to chip in and trade. However, I will cover all my position before 3.00 p.m. and Only do fresh trades euring last 30 minutes, if it is favourable based on swings.
Regards,
Vijay Nair