Day trading guide

Day Trading Guide For December 31, 2019

| Updated on December 31, 2019 Published on December 31, 2019

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

₹1282 • HDFC Bank

S1

S2

R1

R2

COMMENT

1260

1245

1285

1298

Initiate fresh short positions with a stiff stop-loss, as ₹1,285 levels is a strong resistance

 

₹732 • Infosys

S1

S2

R1

R2

COMMENT

723

715

736

742

Buy the stock of Infosys if price moderates to the support at ₹723 levels and place a tight stop-loss

 

₹238 • ITC

S1

S2

R1

R2

COMMENT

234

231

239

242

The stock is facing selling pressure on rallies; thus, initiate short position on rallies with stop-loss at ₹242

 

₹128 • ONGC

S1

S2

R1

R2

COMMENT

125

122

130

133

Fresh long positions can be initiated with a stiff stop-loss only if the stock of ONGC moves beyond ₹130 levels

 

₹1544 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1530

1500

1545

1560

Consider initiating fresh long positions only if the stock breaks out of ₹1,545 and place stop-loss at ₹1,530

 

₹334 • SBI

S1

S2

R1

R2

COMMENT

325

318

335

341

Fresh long positions can be initiated with a tight stop-loss if the stock of SBI rally past ₹335 levels

 

₹2183 • TCS

S1

S2

R1

R2

COMMENT

2180

2160

2220

2240

Initiate fresh short positions with a fixed stop-loss if the stock falls below the support at ₹2,180 levels

 

12332 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12250

12230

12350

12400

Consider initiating fresh long positions with a tight stop-loss only if the contract advances above 12,350 levels

 

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

Published on December 31, 2019
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