Day trading guide

Day Trading Guide for January 23

BL Research Bureau | Updated on January 22, 2019 Published on January 22, 2019

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

₹2133 • HDFC Bank

S1

S2

R1

R2

COMMENT

2120

2100

2150

2175

Initiate fresh long positions only if the stock breaks above ₹2,150. Keep the stop-loss at ₹2,130

 

₹744 • Infosys

S1

S2

R1

R2

COMMENT

739

729

755

800

Outlook is bullish. Go long and also accumulate on dips. Stop-loss can be placed at ₹725

 

₹289 • ITC

S1

S2

R1

R2

COMMENT

284

280

292

298

Resistance ahead. Go short with a stop-loss at ₹296 if ITC reverses lower from ₹292.

 

₹144 • ONGC

S1

S2

R1

R2

COMMENT

143

141

146

148

Near-term outlook is unclear. Avoid trading this stock until a clear trade signal emerges

 

₹1235 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1195

1170

1250

1280

Uptrend is intact. Go long and also accumulate on dips. Keep a wide stop-loss at ₹1,180

 

₹290 • SBI

S1

S2

R1

R2

COMMENT

287

283

294

298

Near-term view is negative. Go short and also accumulate on rallies with a stop-loss at ₹296

 

₹1900 • TCS

S1

S2

R1

R2

COMMENT

1875

1840

1935

1975

Wait for dips and initiate fresh long positions at ₹1,880. Stop-loss can be placed at Rs. 1,860

 

10929 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10870

10835

10965

11000

Initiate fresh long positions with a stop-loss at 10,985 only if the index futures breaks above 11,000

 

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

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