Day trading guide

Day Trading Guide For January 8, 2020

| Updated on January 08, 2020 Published on January 08, 2020

₹1260 • HDFC Bank

S1

S2

R1

R2

COMMENT

1240

1230

1270

1285

The stock has bounced but faces a resistance at current levels. Thus, buy above ₹1,260 with stop-loss at ₹1,250

₹728 • Infosys

S1

S2

R1

R2

COMMENT

728

722

740

746

Initiate fresh long positions at current levels as the stock has moderated to a strong support. Place stop-loss at ₹720

₹235 • ITC

S1

S2

R1

R2

COMMENT

237

235

242

245

Stock price is hovering around a crucial support. Initiate fresh long position with a tight stop-loss

₹125 • ONGC

S1

S2

R1

R2

COMMENT

125

122

130

133

Stock seem to have resumed its downtrend; but short the stock only if price slips below ₹124 with a stiff stop-loss

₹1524 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1500

1488

1528

1540

The stock is facing a considerable resistance; but sell only if it falls below ₹1,515 and place a stiff stop-loss

₹318 • SBI

S1

S2

R1

R2

COMMENT

316

310

325

328

SBI continues to exhibit bearish bias and so one can short the stock on rallies with stop-loss at ₹330

₹2205 • TCS

S1

S2

R1

R2

COMMENT

2190

2180

2220

2236

Adopt range trading strategy as the stock of TCS has been oscillating between two key levels at ₹2,190 and ₹2,220

12113 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12100

12055

12180

12200

The downside looks limited for the contract. Hence, one can initiate fresh longs on declines with stop-loss at 12,045

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

Published on January 08, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.