Day Trading Guide For January 9

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

10631 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10600

10565

10665

10700

Fresh long positions can be initiated with a tight stop-loss if the contract rebounds up from 10,600 levels



₹1859 • HDFC Bank

S1

S2

R1

R2

COMMENT

1850

1840

1870

1880

The stock witnesses selling pressure at higher levels. Go short if the stock reverses down from ₹1870 levels



₹1035 • Infosys

S1

S2

R1

R2

COMMENT

1025

1015

1044

1055

Near-term outlook is positively biased. Buy the stock of Infosys in declines with fixed stop-loss at ₹1025 levels



₹265 • ITC

S1

S2

R1

R2

COMMENT

263

260

267

270

Fresh long positions can be initiated with a stiff stop-loss only if the stock of ITC advances above ₹267 levels



₹197 • ONGC

S1

S2

R1

R2

COMMENT

195

193

200

203

Initiate fresh long positions with a tight stop-loss if the stock of ONGC rebounds up from ₹195 levels



₹928 • Reliance Ind.

S1

S2

R1

R2

COMMENT

920

910

939

950

Make use of intra-day declines to buy the stock while maintaining a stiff stop-loss at ₹920 levels



₹305 • SBI

S1

S2

R1

R2

COMMENT

302

298

310

315

Fresh long positions are recommended with a fixed stop-loss only if the stock moves beyond ₹310 levels



₹2707 • TCS

S1

S2

R1

R2

COMMENT

2680

2660

2725

2745

Consider initiating fresh long positions with a tight stop-loss if the stock reverses higher from ₹2680 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