Day Trading Guide For January 3

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

10472 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10425

10375

10520

10568

Consider initiating fresh short positions with a tight stop-loss if the contract declines below 10,425 levels



₹1872 • HDFC Bank

S1

S2

R1

R2

COMMENT

1860

1850

1880

1890

Fresh long positions are recommended with a fixed stop-loss only if the stock rallies above ₹1,880 levels



₹1029 • Infosys

S1

S2

R1

R2

COMMENT

1020

1010

1038

1046

Initiate fresh short positions with a stiff stop-loss if the stock of Infosys fails to move beyond ₹1,038 levels



₹260 • ITC

S1

S2

R1

R2

COMMENT

258

255

262

264

Near-term outlook is bearish for the stock of ITC. Sell the stock in rallies with a stiff stop-loss at ₹262 levels



₹196 • ONGC

S1

S2

R1

R2

COMMENT

194

191

200

203

Make use of intra-day dips to initiate fresh long positions while maintaining a stiff stop-loss at ₹194 levels



₹911 • Reliance Ind.

S1

S2

R1

R2

COMMENT

900

890

920

930

Initiate fresh short positions with a fixed stop-loss only if the stock of RIL declines below ₹900 levels



₹302 • SBI

S1

S2

R1

R2

COMMENT

298

293

307

312

Fresh short positions are recommended with a stiff stop-loss only if the stock drops below ₹298 levels



₹2633 • TCS

S1

S2

R1

R2

COMMENT

2610

2590

2655

2675

The stock witnesses selling pressure at higher levels. Go short in rallies with a fixed stop-loss at ₹2655 levels



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

Read the rest of this article by Signing up for Portfolio.It's completely free!

What You'll Get





MORE FROM BUSINESSLINE


 Getting recommendations just for you...
This article is closed for comments.
Please Email the Editor