Day Trading Guide For January 1, 2019

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

2110

2090

2130

2150

Stuck in a narrow range. Go long with a stop-loss at ₹2,115 if the stock breaks above ₹2,130

 

₹660 • Infosys

S1

S2

R1

R2

COMMENT

655

650

663

670

Resistance ahead. Go long only if the stock breaks above ₹663. Keep the stop-loss at ₹659

 

₹281 • ITC

S1

S2

R1

R2

COMMENT

280

277

285

290

Initiate fresh long positions with a stop-loss at ₹281 only if ITC breaches ₹285 decisively

 

₹150 • ONGC

S1

S2

R1

R2

COMMENT

146

140

154

159

Outlook is bullish. Go long and also accumulate on dips. Stop-loss can be placed at ₹144

 

₹1121 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1110

1085

1135

1160

Initiate fresh long positions only if RIL breaks above ₹1,135. Keep the stop-loss at ₹1,110

 

₹295 • SBI

S1

S2

R1

R2

COMMENT

293

290

298

302

SBI seems to be losing strength. Go short if it declines below ₹293. Keep the stop-loss at ₹296.

 

₹1893 • TCS

S1

S2

R1

R2

COMMENT

1865

1830

1915

1940

Outlook is negative. Go short and also accumulate on rallies. Keep the stop-loss at ₹1,925

 

10908 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10895

10870

10945

10970

Stuck in a narrow range. Go short with a stop-loss at 10,915 if the index futures break below 10,895

 

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

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