Day trading guide

Day Trading Guide for January 23

| Updated on January 23, 2020 Published on January 23, 2020

₹1241 • HDFC Bank

S1

S2

R1

R2

COMMENT

1230

1215

1260

1275

The stock tests a key support at current levels. Go long if it reverses higher from ₹1,230 with a fixed stop-loss

₹769 • Infosys

S1

S2

R1

R2

COMMENT

755

745

775

800

Fresh long positions can be initiated with a fixed stop-loss if the stock advances above ₹775 levels

₹238 • ITC

S1

S2

R1

R2

COMMENT

236

233

241

244

Initiate fresh short positions with a tight stop-loss if the stock of ITC falls below ₹237 levels

₹116 • ONGC

S1

S2

R1

R2

COMMENT

115

110

120

125

ONGC is testing its 52-week low and hence short the stock only if it falls below ₹115 with stop-loss at ₹120

₹1535 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1515

1500

1545

1560

Fresh short positions are recommended with a fixed stop-loss only if the stock drops below ₹1,520 levels

₹315 • SBI

S1

S2

R1

R2

COMMENT

310

300

320

327

Go long if the stock declines to ₹310 as that level is a strong support. Place stop-loss at ₹305

₹2209 • TCS

S1

S2

R1

R2

COMMENT

2190

2150

2210

2225

Initiate fresh long position with a tight stop-loss if the stock of TCS breaks out of resistance and ₹2,210.

12149 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12130

12100

12200

12250

Fresh short positions can be initiated with stop-loss at 12,250 if the contract rallies to 12,200 levels

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

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Published on January 23, 2020
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