Day trading guide

Day Trading Guide For January 23

| Updated on January 22, 2018 Published on January 22, 2018

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

₹1964 • HDFC Bank

S1

S2

R1

R2

COMMENT

1950

1915

1980

2000

Initiate fresh long positions with a stop-loss at ₹1,935 if the stock bounces from ₹1,950



₹1150 • Infosys

S1

S2

R1

R2

COMMENT

1120

1100

1160

1200

Uptrend is intact. Go long and also accumulate on dips. Keep the stop-loss at ₹1.110



₹273 • ITC

S1

S2

R1

R2

COMMENT

270

266

275

277

Immediate outlook is not clear. Avoid trading this stock until a clear trade signal emerges



₹200 • ONGC

S1

S2

R1

R2

COMMENT

198

195

205

210

Hovers above a support. Go long with a stop-loss at ₹196 if the stock reverses higher from ₹198.



₹971 • Reliance Ind.

S1

S2

R1

R2

COMMENT

960

940

985

1000

Uptrend gains momentum. Go long and also accumulate on dips with a stop-loss at ₹950



₹306 • SBI

S1

S2

R1

R2

COMMENT

300

295

310

320

Stuck in a narrow range. Go short with a stop-loss at ₹303 if the stock declines below ₹300



₹3113 • TCS

S1

S2

R1

R2

COMMENT

3000

2940

3130

3200

Outlook is bullish. Go long if the stock breaks above ₹3,130. Keep the stop-loss at ₹3,080



10964 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10920

10880

10980

11000

Key resistances ahead. Go short with a stop-loss at 11,015 of the contract reverses lower from 11,000



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

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