Day trading guide

Day Trading Guide for January 29, 2020

| Updated on January 28, 2020 Published on January 29, 2020

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

₹1222 • HDFC Bank

S1

S2

R1

R2

COMMENT

1210

1200

1235

1250

Consider initiating fresh long positions with a tight stop-loss only if the stock rallies above ₹1,235 levels

 

₹777 • Infosys

S1

S2

R1

R2

COMMENT

768

760

786

795

Initiate fresh long positions with a fixed stop-loss if the stock rebounds up from ₹768 levels

 

₹230 • ITC

S1

S2

R1

R2

COMMENT

228

226

233

236

Make use of intra-day rallies to initiate fresh short positions while maintaining a stop-loss at ₹233 levels

 

₹116 • ONGC

S1

S2

R1

R2

COMMENT

114

112

119

122

Fresh long positions can be initiated with a stiff stop-loss only if the stock of ONGC reverses higher from ₹114 levels

 

₹1471 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1455

1440

1485

1500

Near-term stance is bearish for the stock of RIL. Sell the stock in rallies with a fixed stop-loss ₹1,485 levels

 

₹314 • SBI

S1

S2

R1

R2

COMMENT

310

304

320

327

Make use of intra-day rallies to initiate fresh short positions with a stiff stop-loss at ₹320 levels

 

₹2184 • TCS

S1

S2

R1

R2

COMMENT

2165

2145

2205

2225

Fresh long positions can be initiated with a tight stop-loss if the stock of TCS advances above ₹2,205 levels

 

12068 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12020

11970

12125

12175

Initiate fresh short positions with a tight stop-loss if the contract fails to move beyond 12,125 levels

 

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

Published on January 29, 2020
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