Day trading guide

Day Trading Guide for December 20, 2019

| Updated on December 20, 2019 Published on December 20, 2019

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

₹1288 • HDFC Bank

S1

S2

R1

R2

COMMENT

1275

1260

1300

1315

Consider initiating fresh long positions with a stiff stop-loss only if the stock moves beyond ₹1,300 levels

 

₹731 • Infosys

S1

S2

R1

R2

COMMENT

723

714

736

743

Make use of intra-day declines to go long on the stock while maintaining a fixed stop-loss at ₹723 levels

 

₹244 • ITC

S1

S2

R1

R2

COMMENT

241

238

247

250

Initiate fresh long positions with a tight stop-loss if the stock of ITC rebounds up from ₹241 levels

 

₹125 • ONGC

S1

S2

R1

R2

COMMENT

123

120

128

131

The stock is range-bound and moves in a narrow band. Desist trading in it for the session

 

₹1605 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1590

1597

1620

1635

Near-term outlook is bullish for the stock of RIL. Buy in dips with a stiff stop-loss at ₹1,590 levels

 

₹328 • SBI

S1

S2

R1

R2

COMMENT

323

315

333

340

Fresh short positions are recommended with a fixed stop-loss only if the stock of SBI falls below ₹323 levels

 

₹2228 • TCS

S1

S2

R1

R2

COMMENT

2200

2180

2250

2270

Outlook stays positive above ₹2,200 levels. Buy in declines with a stiff stop-loss at ₹2,200 levels

 

12268 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12220

12170

12320

12367

Fresh long positions can be initiated with a tight stop-loss if the contract reverses higher from 12,220 levels

 

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

Published on December 20, 2019
This article is closed for comments.
Please Email the Editor