Day trading guide

Day Trading Guide for December 19, 2019

| Updated on December 19, 2019 Published on December 19, 2019

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

₹1292 • HDFC Bank

S1

S2

R1

R2

COMMENT

1285

1260

1300

1318

The stock made fresh 52-week high by breaching a crucial resistance. Buy on dips with ₹1,280 as stop-loss.

 

₹732 • Infosys

S1

S2

R1

R2

COMMENT

722

714

736

743

Infosys breaks out of the range making the short term outlook positive. Hence, initiate buy with stop-loss at ₹722.

 

₹245 • ITC

S1

S2

R1

R2

COMMENT

238

235

246

252

Near-term outlook is positive for the stock of ITC and so one can go long in the stock with a tight stop-loss.

 

₹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.

 

₹1575 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1550

1535

1575

1590

RIL is hovering around the resistance at ₹1,575. Initiate fresh long positions only above ₹1,575 with stiff stop-loss.

 

₹327 • 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.

 

₹2167 • TCS

S1

S2

R1

R2

COMMENT

2140

2120

2185

2210

Latest correction can be used to buy the stock with stop-loss at ₹2,140, as the prevailing short-term trend is bullish.

 

12243 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12200

12140

12290

12326

As the bullish momentum continues, fresh long positions can be initiated on declines with stop-loss at 12,200.

 

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

Published on December 19, 2019
This article is closed for comments.
Please Email the Editor