Day trading guide

Day Trading Guide for January 31, 2020

| Updated on January 30, 2020

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

₹1227 • HDFC Bank

S1

S2

R1

R2

COMMENT

1215

1200

1239

1255

Fresh short positions can be initiated with a fixed stop-loss only if the stock falls below ₹1,215 levels

 

₹780 • Infosys

S1

S2

R1

R2

COMMENT

772

762

789

799

Consider initiating fresh short positions with a tight stop-loss only if the stock reverses down from ₹789 levels

 

₹233 • ITC

S1

S2

R1

R2

COMMENT

231

228

236

239

Initiate fresh long positions with a stiff stop-loss if the stock of ITC advances above ₹236 levels

 

₹115 • ONGC

S1

S2

R1

R2

COMMENT

113

111

117

120

Fresh long positions are recommended with a fixed stop-loss only if the stock of ONGC moves beyond ₹117 levels

 

₹1442 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1430

1415

1455

1470

The stock of RIL extended the downtrend and fell 2.5 per cent on Thursday. Sell on rallies with a stop-loss at ₹1,455

 

₹310 • SBI

S1

S2

R1

R2

COMMENT

305

299

316

322

Near-term stance is negatively biased for the stock of SBI. Go short on a fall below ₹305 with a fixed stop-loss

 

₹2138 • TCS

S1

S2

R1

R2

COMMENT

2120

2100

2160

2180

Initiate fresh long positions with a tight stop-loss only if the stock of TCS moves beyond ₹2,160 levels

 

12043 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12000

11950

12085

12130

Consider initiating fresh long positions with a tight stop-loss if the contract rallies above 12,085 levels

 

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

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Published on January 31, 2020
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