Day Trading Guide for December 20, 2018

 

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

₹2122 • HDFC Bank

S1

S2

R1

R2

COMMENT

2105

2090

2135

2150

Fresh long positions can be initiated with a stiff stop-loss if the stock rebounds up from ₹2,105 levels

 

₹665 • Infosys

S1

S2

R1

R2

COMMENT

655

645

675

685

Initiate fresh short positions with a fixed stop-loss if the stock fails to move beyond ₹675 levels

 

₹282 • ITC

S1

S2

R1

R2

COMMENT

280

277

286

289

The stock witnesses buying interest at lower levels. Buy the stock of ITC in declines with a stiff stop-loss

 

₹148 • ONGC

S1

S2

R1

R2

COMMENT

145

142

151

154

Fresh long positions are recommended with a tight stop-loss only if the stock of ONGC climbs above ₹151 levels

 

₹1137 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1122

1105

1150

1165

Consider initiating fresh long positions with a fixed stop-loss if the stock of RIL reverses higher from ₹1,122 levels

 

₹300 • SBI

S1

S2

R1

R2

COMMENT

294

289

305

312

Near-term stance is positive for the stock of SBI. Buy the stock in dips with a tight stop-loss at ₹294 levels

 

₹1967 • TCS

S1

S2

R1

R2

COMMENT

1950

1930

1990

2010

Make use of intra-day rallies to initiate fresh short positions while maintaining a fixed stop-loss at ₹1,990 levels

 

10986 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10935

10885

11030

11080

The contract tests a key resistance at current levels. Make use of declines to go long with a fixed stop-loss

 

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

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