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The day trading guide gives you the key intraday supports and resistances to watch out for on the Nifty futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, and SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.
₹1700 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
1690 | 1670 | 1720 | 1740 | Buy this stock but have a tight stop-loss at 1690. |
₹1551 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
1550 | 1520 | 1580 | 1600 | Refrain from trading as the trend appears uncertain. |
₹467 • ITC
S1 | S2 | R1 | R2 | COMMENT |
460 | 455 | 470 | 480 | Go long if the stock surpasses 470; stop-loss at 465. |
₹205 • ONGC
S1 | S2 | R1 | R2 | COMMENT |
205 | 202 | 210 | 215 | Initiate longs as the stock is at support; stop-loss at 202. |
₹2589 • Reliance Ind.
S1 | S2 | R1 | R2 | COMMENT |
2570 | 2550 | 2600 | 2650 | Go long after a breakout of 2600; stop-loss at 2550. |
₹641 • SBI
S1 | S2 | R1 | R2 | COMMENT |
640 | 630 | 650 | 660 | Do no trade as the chart does not indicate a direction. |
₹3810 • TCS
S1 | S2 | R1 | R2 | COMMENT |
3770 | 3750 | 3830 | 3880 | Stock is range-bound. Stay away until there is a clarity. |
21830 • Nifty 50 Futures
S1 | S2 | R1 | R2 | COMMENT |
21820 | 21680 | 22000 | 22100 | Buy if the contract bounces off 21820; stop-loss at 21750. |
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.
Published on January 2, 2024
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