Day trading guide

Day Trading Guide for January 30, 2019

| Updated 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:

₹1235 • HDFC Bank

S1

S2

R1

R2

COMMENT

1210

1200

1240

1250

Consider initiating fresh long positions with a tight stop-loss only if the stock rallies above ₹1,240 levels

 

₹790 • Infosys

S1

S2

R1

R2

COMMENT

768

760

800

816

The stock is hovering around the resistance at ₹800; hence, buy with tight stop-loss only if the stock rises above it.

 

₹237 • ITC

S1

S2

R1

R2

COMMENT

235

230

239

242

Despite yesterday's recovery, the trend remains bearish. Initiate fresh short position with stop-loss at ₹240

 

₹118 • ONGC

S1

S2

R1

R2

COMMENT

114

112

119

122

ONGC is expected to recover from current levels. Initiate fresh long positions with stop-loss at ₹116

 

₹1480 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1455

1440

1485

1500

Stock price remains below the critical level of ₹1,500. So, sell the stock on rallies with stop-loss at ₹1,510

 

₹316 • 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

 

₹2154 • TCS

S1

S2

R1

R2

COMMENT

2165

2150

2205

2225

Bears seems to gain momentum; but initiate short positions with tight stop-loss only if price slips below ₹2,150

 

12121 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12100

12050

12200

12250

Initiate fresh short position with tight stop-loss as the index continues to face downward pressure

 

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

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Published on January 30, 2020
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