Day trading guide

Day Trading Guide for January 21

Yoganand D, BL Research Bureau | Updated on January 20, 2020 Published on January 21, 2020

₹1254 • HDFC Bank

S1

S2

R1

R2

COMMENT

1240

1220

1270

1285

Fresh short positions can be initiated with a tight stop-loss only if the stock falls below ₹1,240 levels

₹768 • Infosys

S1

S2

R1

R2

COMMENT

760

750

775

783

Make use of intra-day declines to buy the stock of Infosys while maintaining a fixed stop-loss at ₹760 levels

₹241 • ITC

S1

S2

R1

R2

COMMENT

239

236

244

247

Initiate fresh long positions with a stiff stop-loss if the stock of ITC moves beyond ₹244 levels

₹122 • ONGC

S1

S2

R1

R2

COMMENT

120

117

125

128

Near-term outlook is bearish for the stock of ONGC. Sell on rallies while retaining a fixed stop-loss at ₹125 levels

₹1532 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1515

1500

1545

1560

Consider initiating fresh short positions with a fixed only if the stock of RIL falls below ₹1,515 levels

₹313 • SBI

S1

S2

R1

R2

COMMENT

307

300

320

327

Fresh short positions can be initiated with a stiff stop-loss if the stock fails to move beyond ₹320 levels

₹2170 • TCS

S1

S2

R1

R2

COMMENT

2150

2130

2190

2210

The stock is witnessing selling pressure at higher levels. Sell on rallies with a stop-loss at ₹2,190 levels

12263 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12210

12160

12310

12360

Consider initiating fresh long positions with a tight only if the contract advances above 12,310 levels

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

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Published on January 21, 2020
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