Day trading guide

Day Trading Guide for January 9, 2020

| Updated on January 09, 2020 Published on January 09, 2020

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

₹1257 • HDFC Bank

S1

S2

R1

R2

COMMENT

1240

1225

1270

1286

Initiate fresh long positions with a fixed stop-loss only if the stock moves beyond ₹1,270 levels

 

₹718 • Infosys

S1

S2

R1

R2

COMMENT

710

700

725

734

Fresh long positions are recommended with a stiff stop-loss if the stock of Infosys advances above ₹725 levels

 

₹234 • ITC

S1

S2

R1

R2

COMMENT

231

228

237

240

Consider initiating fresh long positions with a fixed stop-loss if the stock of ITC rebounds up from ₹231 levels

 

₹123 • ONGC

S1

S2

R1

R2

COMMENT

120

117

126

129

Near-term outlook is bearish for the stock of ONGC. Sell on rallies while retaining a stiff stop-loss at ₹126

 

₹1513 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1497

1480

1530

1545

Fresh long positions can be initiated with a tight stop-loss only if the stock of RIL advances above ₹1,530 levels

 

₹319 • SBI

S1

S2

R1

R2

COMMENT

311

304

326

334

Initiate fresh long positions with a stiff stop-loss only if the stock of SBI advances above ₹326 levels

 

₹2255 • TCS

S1

S2

R1

R2

COMMENT

2235

2215

2275

2295

Make use of intra-day declines to buy the stock of TCS while maintaining a stop-loss at ₹2,215 levels

 

12063 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12010

11960

12110

12160

Fresh long positions can be initiated with a tight stop-loss only if the contract rallies above 12,110 levels

 

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

Published on January 09, 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.