Day Trading Guide For January 31, 2019

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

₹2032 • HDFC Bank

S1

S2

R1

R2

COMMENT

2020

2005

2045

2060

Initiate fresh long positions with a fixed stop-loss only if the stock rallies above ₹2045 levels

 

₹724 • Infosys

S1

S2

R1

R2

COMMENT

717

708

733

743

Fresh long positions can be initiated with a stiff stop-loss only if the stock rebounds up from ₹717 levels

 

₹274 • ITC

S1

S2

R1

R2

COMMENT

271

268

278

281

Make use of intra-day rallies to go short on the stock of ITC with a stiff stop-loss at ₹278 levels

 

₹139 • ONGC

S1

S2

R1

R2

COMMENT

136

133

142

145

Initiate fresh short positions with a tight stop-loss if the stock of ONGC fails to move beyond ₹142 levels

 

₹1194 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1180

1165

1210

1225

Fresh short positions can be initiated with a fixed stop-loss if the stock of RIL falls below ₹1,180 levels

 

₹287 • SBI

S1

S2

R1

R2

COMMENT

281

275

293

300

Initiate fresh long positions with a stiff stop-loss if the stock of SBI reverses higher from ₹281 levels

 

₹1977 • TCS

S1

S2

R1

R2

COMMENT

1960

1940

2000

2020

Consider initiating fresh long positions with a tight stop-loss if the stock rebounds up from ₹1,960 levels

 

10642 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10600

10550

10690

10740

Fresh short positions are recommended with a fixed stop-loss only if the contract declines below 10,600 levels

 

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

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