Paper trading also know as Virtual trading give investor a chance to trade in Indian stock market with real money. This is good simulation for new investor or people who are new in using computer for trading. This give customer a chance to see how the stock market work without investing a lot of money into it.
There are few sites in India which give option to Paper trade. The major among them are
Money Control: Moneybhai (http://moneybhai.moneycontrol.com/)
The give chance to new member to play game while trading virtual money and if you are in the top contestant you can end up making some real money by playing there game.
Dalal Street (http://www.dsij.in/stock-market-challenge.aspx)
This also provides a good simulation for trading in Indian Stock markets.
Paper trading/Virtual trading can be a good option for new investor where they can check the water before investing any real money in the stock market but they should also remember that it is virtual money and even if you make some money in this, it doesn’t mean that you can earn in the real market,