Intraday trading, also called day trading, is the buying and selling of stocks and other financial instruments within the same day. In other words, intraday trading means all positions are squared-off before the market closes and there is no change in ownership of shares as a result of the trades. The usefulness of intraday trades lie in the fact that one can also short sell the instruments aiming to square it off by the end of the day if they anticipate that the price of the instrument will go down. This is not possible in positional trading. Many people are by and for moving to the intraday trading mode from positional mode, as they get to see the money at the end of the day. Until recently, people perceived day trading to be the domain of financial firms and professional traders. But this has changed today, thanks to the popularity of electronic trading and margin trading. While there are numerous strategies adopted by various individuals and firms to increase their profitability in day trading this study aims to analyze and present three such effective strategies that can be used for intraday trading in primarily stocks, futures and options. It aims to suggest the entry and exit points for the traders with a good risk to reward ratio