Day trading guide

Day Trading Guide For January-04

Yoganand D BL Research Bureau | Updated on January 08, 2018 Published on January 03, 2018

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



10469 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10425

10375

10520

10568

Fresh short positions are recommended with a fixed stop-loss only if the contract declines below 10,425 levels



₹1852 • HDFC Bank

S1

S2

R1

R2

COMMENT

1840

1830

1860

1870

Make use of intra-day rallies to initiate fresh short positions with a tight stop-loss at ₹1,860 levels



₹1019 • Infosys

S1

S2

R1

R2

COMMENT

1010

1000

1030

1038

Sell the stock of Infosys during intra-day rallies while maintaining a fixed stop-loss at ₹1030 levels



₹261 • ITC

S1

S2

R1

R2

COMMENT

258

255

263

265

Initiate fresh short positions with a fixed stop-loss only if the stock of ITC reverses down from ₹263 levels



₹193 • ONGC

S1

S2

R1

R2

COMMENT

191

188

196

199

The stock has formed a bearish engulfing candlestick pattern, implying a near-term correction. Sell in rallies



₹916 • Reliance Ind.

S1

S2

R1

R2

COMMENT

907

895

925

935

Consider initiating fresh short positions with a stiff stop-loss only if the stock falls below ₹907 levels



₹302 • SBI

S1

S2

R1

R2

COMMENT

298

293

307

312

Initiate fresh short positions with a tight stop-loss only if the stock of SBI declines below ₹298 levels



₹2635 • TCS

S1

S2

R1

R2

COMMENT

2610

2590

2655

2675

Fresh short positions can be initiated with a stiff stop-loss if the stock reverses down from ₹2655 levels



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

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