Day trading guide

Day Trading Guide for January 8

| Updated on January 07, 2019 Published on January 07, 2019

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

₹2120 • HDFC Bank

S1

S2

R1

R2

COMMENT

2105

2090

2134

2150

Fresh long positions are recommended with a fixed stop-loss only if the stock rallies above ₹2,134 levels

 

₹671 • Infosys

S1

S2

R1

R2

COMMENT

665

655

680

690

Make use of intra-day declines to go long on the stock while maintaining a fixed stop-loss at ₹665 levels

 

₹281 • ITC

S1

S2

R1

R2

COMMENT

278

276

284

287

Consider initiating fresh long positions with a tight stop-loss only if the stock of ITC moves beyond ₹284 levels

 

₹147 • ONGC

S1

S2

R1

R2

COMMENT

145

142

149

152

Utilise intra-day declines to buy the stock of ONGC while retaining a stiff stop-loss at ₹145 levels

 

₹1103 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1090

1075

1118

1130

Initiate fresh short positions with a fixed stop-loss only if the stock of RIL falls below ₹1090 levels

 

₹295 • SBI

S1

S2

R1

R2

COMMENT

289

282

301

307

The stock tests a key resistance at current levels. Go long with a tight stop-loss on a strong rally above ₹301 levels

 

₹1896 • TCS

S1

S2

R1

R2

COMMENT

1880

1860

1920

1940

Fresh long positions are recommended with a tight stop-loss only if the stock advances above ₹1,920 levels

 

10803 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10750

10700

10850

10900

Initiate fresh long positions with a fixed stop-loss if the contract moves beyond 10,850 levels

 

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

Published on January 07, 2019

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