Day Trading Guide for January 2, 2019

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

₹2147 • HDFC Bank

S1

S2

R1

R2

COMMENT

2110

2090

2150

2175

The stock is gaining momentum. Go long and also accumulate on dips with a stop-loss at ₹2,105

 

₹664 • Infosys

S1

S2

R1

R2

COMMENT

662

656

672

680

Outlook is turning positive. Initiate fresh long position at current levels. Keep the stop-loss at ₹658

 

₹283 • ITC

S1

S2

R1

R2

COMMENT

280

276

285

290

Resistance ahead. Go long only if the stock breaks above ₹285. Stop-loss can be placed at ₹281

 

₹149 • ONGC

S1

S2

R1

R2

COMMENT

147

145

152

154

Resistance caps the upside. Initiate fresh short positions at current levels with a stop-loss at ₹153

 

₹1121 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1100

1065

1160

1200

Immediate outlook is unclear. Avoid trading this stock until a clear trade signal emerges

 

₹299 • SBI

S1

S2

R1

R2

COMMENT

292

287

309

320

Outlook is bullish. Go long and also accumulate on dips. Stop-loss can be placed at ₹291

 

₹1902 • TCS

S1

S2

R1

R2

COMMENT

1880

1860

1945

1975

Near-term outlook is unclear. Go long with a stop-loss at ₹1,910 only if TCS breaks above ₹1,945

 

10960 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10940

10900

11000

11045

Near-term view is positive. Go long and also accumulate on dips. Keep the stop-loss at ₹10,925

 

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

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