Day trading guide

Day Trading Guide for December 18, 2019

| Updated on December 18, 2019 Published on December 18, 2019

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹1272 • HDFC Bank

S1

S2

R1

R2

COMMENT

1260

1245

1285

1300

Initiate fresh long positions with a tight stop-loss if the stock reverses higher from ₹1,260 levels

 

₹729 • Infosys

S1

S2

R1

R2

COMMENT

722

714

736

743

Near-term outlook is positive for the stock of Infosys. Buy in declines with a fixed stop-loss at ₹722 levels

 

₹241 • ITC

S1

S2

R1

R2

COMMENT

238

235

243

246

Fresh long positions are recommended with a stiff stop-loss only if the stock of ITC moves beyond ₹243 levels

 

₹125 • ONGC

S1

S2

R1

R2

COMMENT

123

120

128

131

Initiate fresh long positions with a fixed stop-loss only if the stock advances above ₹128 levels

 

₹1562 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1550

1535

1575

1590

Consider initiating fresh long positions with a tight stop-loss only if the stock of RIL climbs above ₹1,575 levels

 

₹332 • SBI

S1

S2

R1

R2

COMMENT

325

315

337

345

Fresh long positions can be initiated with a fixed stop-loss if the stock rebounds up from ₹325 levels

 

₹2165 • TCS

S1

S2

R1

R2

COMMENT

2140

2120

2185

2210

Make use of intra-day dip to go long on the stock while retaining a stiff stop-loss at ₹2,140 levels

 

12187 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12140

12085

12240

12290

Initiate fresh long positions with a fixed stop-loss if the contract reverses higher from 12,140 levels

 

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Published on December 18, 2019
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