Day trading guide

Day Trading Guide for September 12, 2019

| Updated on September 12, 2019 Published on September 12, 2019

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

₹2248 • HDFC Bank

S1

S2

R1

R2

COMMENT

2234

2220

2263

2278

The stock trades in a narrow range. Go long with a fixed stop-loss on a strong rally above ₹2,263 levels

 

₹820 • Infosys

S1

S2

R1

R2

COMMENT

814

807

828

836

Make use of intra-day rallies to initiate fresh short positions while maintaining a stiff stop-loss at ₹828 levels

 

₹243 • ITC

S1

S2

R1

R2

COMMENT

240

237

246

249

Fresh long positions are recommended with a tight stop-loss only if the stock of ITC moves beyond ₹246 levels

 

₹125 • ONGC

S1

S2

R1

R2

COMMENT

123

119

128

131

Testing a key resistance the stock retreated last session. Go short with a stiff stop-loss if it falls below ₹123 levels

 

₹1234 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1220

1205

1250

1265

Initiate fresh long positions with a tight stop-loss if the stock of RIL reverses higher from ₹1,220 levels

 

₹285 • SBI

S1

S2

R1

R2

COMMENT

277

272

290

298

Make use of intra-day dips to buy the stock of SBI while retaining a fixed stop-loss at ₹277 levels

 

₹2153 • TCS

S1

S2

R1

R2

COMMENT

2130

2110

2175

2195

Near-term outlook is bearish for the stock. Sell on rallies with a stiff stop-loss placed at ₹2,175 levels

 

11060 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11000

10950

11100

11150

Fresh long positions can be initiated with a tight stop-loss if the index futures rebounds up from 11,000 levels

 

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

Published on September 12, 2019
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