NRIs can trade only on delivery based equities and equity futures and options (it is mandatory to have a Custodian Participant code to do so).  


Yes, a Non-resident Indian can trade in equity futures and options. Yes, NRIs can trade in the F&O segment of the exchange out of the rupee funds held in India on a non-repatriate basis.


Can an NRI do intraday trading in India?

No, NRIs are not permitted to do Intra-day trading in India Stock Market. 

Here is the list of what NRIs can do and what not:

NRI available Investment Options in India

Instruments

NRI Permitted?

Equity Delivery (Cash & Carry)

Yes

Equity Derivatives (Future & Options)

Yes

ETF

Yes

NCD / Bonds

Yes

IPO

Yes

Equity BTST (Buy Today Sell Tomorrow)

No

Short selling

No

Currency Derivatives

No

Commodity Derivatives

No