Day Trading Guide For December 18

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

₹2130 • HDFC Bank

S1

S2

R1

R2

COMMENT

2115

2100

2145

2160

Near-term outlook is bullish of the stock. Make use of intra-day dips to buy the stock with a fixed stop-loss

 

₹693 • Infosys

S1

S2

R1

R2

COMMENT

685

675

705

715

Fresh short positions can be initiated with a stiff stop-loss if the stock of Infosys falls below ₹685 levels

 

₹280 • ITC

S1

S2

R1

R2

COMMENT

277

274

283

286

The stock of ITC tests a key resistance. Go long with a fixed stop-loss only if the stock rallies above ₹283 levels

 

₹148 • ONGC

S1

S2

R1

R2

COMMENT

145

142

151

154

Make use of intra-day declines to buy the stock of ONGC while maintaining a tight stop-loss at ₹145 levels

 

₹1130 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1115

1100

1145

1160

Initiate fresh long positions with stiff stop-loss if the stock of RIL rebounds up from ₹1,115 levels

 

₹288 • SBI

S1

S2

R1

R2

COMMENT

283

276

294

300

Fresh long positions can be initiated with a tight stop-loss if the stock of SBI advances above ₹294 levels

 

₹1993 • TCS

S1

S2

R1

R2

COMMENT

1975

1955

2010

2030

Initiate fresh short positions with stiff stop-loss if the stock drops below ₹1,975 levels

 

10910 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10860

10810

10950

11000

Fresh long positions can be initiated with a tight stop-loss if the contract reverses higher from 10,860 levels

 

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

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