Day trading guide

Day Trading Guide For January 29, 2019

| Updated on January 28, 2019 Published on January 28, 2019

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

₹2083 • HDFC Bank

S1

S2

R1

R2

COMMENT

2070

2055

2095

2110

Initiate fresh short positions with a fixed stop-loss if the stock fails to move beyond ₹2095 levels

 

₹728 • Infosys

S1

S2

R1

R2

COMMENT

720

710

735

745

Fresh long positions are recommended with a tight stop-loss only if the stock advances above ₹735 levels

 

₹274 • ITC

S1

S2

R1

R2

COMMENT

271

268

277

280

Near-term outlook is bearish for the stock of ITC. Sell in rallies while retaining a fixed stop-loss at ₹277 levels

 

₹141 • ONGC

S1

S2

R1

R2

COMMENT

139

136

145

148

Initiate fresh long positions with a tight stop-loss if the stock of ONGC rebounds up from ₹139 levels

 

₹1229 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1215

1200

1245

1260

The stock is experiencing selling pressure at higher levels. Make use of intra-day rallies to sell with a fixed stop-loss

 

₹281 • SBI

S1

S2

R1

R2

COMMENT

275

269

287

293

Consider initiating fresh long positions with a fixed stop-loss only if the stock reverses higher from ₹275 levels

 

₹1951 • TCS

S1

S2

R1

R2

COMMENT

1930

1910

1970

1990

Near-term outlook is bullish for the stock of TCS. Utilise intra-day dips to buy the stock with a stop-loss at ₹1,930

 

10676 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10625

10575

10725

10775

Initiate fresh short positions with a tight stop-loss if the contract reverses down from 10,725 levels

 

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

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Published on January 28, 2019
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