As the name 'day trading' suggests, it just means the kind of trading where you buy and sell a stock on the same day. In this kind of trading technique, you can draw a parallel to betting, where you're trying to trade based on the price of that particular stock changing over the next few hours, minutes and even seconds. If a day trader is convinced that a price of a stock is going to rise, he will buy the particular scrip. If the trader is of the opinion that the price will fall, he will sell the stock and attempt to buy it back after at a lower price under the assumption that it will rise again in the future.

In India, where people are more used to as saving culture and do not take too many risks, day trading has started gaining popularity. This is mostly because many brokers allow you to perform day trades based on margins. This is basically trading on borrowed money. The broker's charges for day trading also are relatively lower than other forms of trading and this too has added to the popularity of day trading.

One intraday trading strategy has an extremely short term kind of focus. This occurs when there is multiple buying and selling of the same stock for smaller profits. However, a more popular strategy is when a trader 'takes a position' on a stock which means holding it for a longer period without multiple buying selling.

Another strategy is termed as "event trading" or often called "trading the news". This is when there is a movement in price based on certain news that may have recently broken about a company that is publicly listed. For example, if Reliance petroleum has recently discovered a whole new oil field, this could affect the price of the stock to rise. In this kind of a scenario, Event traders will try to predict how much the news will affect the markets, for how long and then trade accordingly.

Trend following or riding the curve is one of the most basic trading strategies. The trader assumes that the current price trend will continue and acts accordingly. In other words, they buy stocks which are moving up and sell stocks which are moving down. As all Swing Traders will tell you, following the trend does not always work.

While talking about riding a trend, we are basically talking about timing the market movements as much as possible. Swing traders are the specialists in this kind of a strategy. A swing trader will try and find those points in the price of a stock when a stock on the rise is about to start falling or a stock that has been falling is about to start rising.

Another strategy of day trading is called trading a range. This is when a trader believes that the price of a particular stock will not breach a certain range. This range has an upper and a lower limit also called resistance and support lines. Basically a trader who follows this strategy will buy a stock when it has reached the lower limit of his range and sell the stock when it hits the price which he believes it will not cross.

Short selling or shorting a stock is a practice which may be used in combination with any of the other strategies and allows a trader to profit from a price decline by selling a stock that they don't own. The trader borrows the shares from his broker and sells them immediately, hoping that the price will fall so that he can buy them back at a lower price and return them to his broker.

The practice of short selling a stock is considered quite controversial and its use by retail investor although permitted by SEBI is still restricted.

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