Intraday trading involves buying and selling securities within the same trading day. It generally applies to equities (securities). The benefits of intraday trading are that trading costs are lower when a position is squared off (closed) within the same day due to the fact that STT rates are lower for intraday trading (versus delivery trading, when a position is not closed within the same day).
Generally speaking, day-traders indulge in intraday trading. Investors are generally not considered associated with intraday trading. Because intraday trading involves quick entries and exits, proper risk management is crucial to generate profits. Due to the fact that intraday traders are more likely to generate higher turnover, they are likely to choose a broker (such as a discount broker) that charges low brokerage rates.