Intraday trading means opening and closing a position in the same session, between 9:15 AM and 3:30 PM. Brokers call this MIS or intraday product type and give leverage on it, so you can trade more shares than your cash alone would buy. Any position still open near the close is squared off automatically by the broker, often with a penalty charge. Suppose you buy 100 SBI shares at ₹800 at 10 AM and sell at ₹804 by noon; the gross gain is ₹400, less brokerage, STT and other charges. Because moves within a day are small, intraday traders rely on leverage and volume, which is exactly what makes losses fast. Intraday profits are taxed as speculative business income. Most beginners lose money here; a SEBI study found that a large majority of individual intraday traders lost money. Learn on paper first.