Most day traders work within the confines of a single trading session to enjoy intra-day trading margins and to avoid overnight risk. (tradingsetupsreview.com)
By holding overnight, the swing trader incurs the unpredictability of overnight risk resulting in gaps up or down against the position. (investopedia.com)
In intraday trading, the intent is to make quick profits, with no overnight risks, but high risks due to price fluctuations in the day, it requires less capital and involves less brokerage and short selling of securities is possible; however in delivery trading, capital required is high as full payment has to be made upfront for the securities and it involves high brokerage but there are other benefits like rights issue and dividends. (adigitalblogger.com)