Day Trading Guide For January 31

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

₹1998 • HDFC Bank

S1

S2

R1

R2

COMMENT

1985

1970

2010

2020

Fresh long positions are recommended with a stiff stop-loss only if the stock rallies above ₹2010 levels

 

₹1169 • Infosys

S1

S2

R1

R2

COMMENT

1160

1145

1182

1192

Initiate fresh short positions with a tight stop-loss only if the stock of Infosys declines below ₹1160 levels

 

₹275 • ITC

S1

S2

R1

R2

COMMENT

273

270

278

281

Make use of intra-day declines to initiate fresh long positions while retaining a fixed stop-loss at ₹273 levels

 

₹203 • ONGC

S1

S2

R1

R2

COMMENT

200

197

207

210

Consider initiating fresh long positions with a stiff stop-loss if the stock of ONGC advances above ₹207 levels

 

₹949 • Reliance Ind.

S1

S2

R1

R2

COMMENT

940

930

960

972

Initiate fresh short positions with a fixed stop-loss if the stock reverses down from ₹960 levels

 

₹312 • SBI

S1

S2

R1

R2

COMMENT

306

300

319

325

Fresh long positions can be initiated with a tight stop-loss only if the stock of SBI climbs above ₹319 levels

 

₹3153 • TCS

S1

S2

R1

R2

COMMENT

3130

3110

3175

3195

Utilise intra-day rallies to initiate fresh short positions while maintaining a stiff stop-loss at ₹3175 levels

 

11072 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11020

10968

11120

11170

Consider initiating fresh short positions with a tight stop-loss if the contract falls below 11,020 levels

 

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

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