Technical tip: stocks that moves big intraday with good volumes is a good buy, always hold such stock and never sell it if you are a short term investors.
Short term investors (2-3 months) tend to sell stocks that rally above 5-8% intraday. You should be considering to hold the stock with a Trailing SL at Open price of the stock and hold it for few more days. Stock may correct or consolidate for few days above the Opening Price of the said day and move fresh.
When should one sell a stock that rallies big in short span?
1. Reversal on resistance while the technical indicators are overbought. Candle stick chart patterns like inverted hammer, shooting star, etc at resistances can be sold into.
2. Fundamental target met. Some times fundamental targets are met, 50% profits can be booked. Always fundamentally good stocks rally technically once fundamental targets are met. In such cases, short term investors should switch to technical charts, finding good trailing SL or a good near term target.