Day Trading Guide For January-16

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

10743 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10695

10650

10775

10810

Near-term view stays as long as the contract trades above 10,695 levels. Buy in dips with a fixed stop-loss



₹1894 • HDFC Bank

S1

S2

R1

R2

COMMENT

1885

1875

1905

1915

Make use of intra-day declines to buy the stock while retaining a stiff stop-loss at ₹1,885 levels



₹1080 • Infosys

S1

S2

R1

R2

COMMENT

1070

1060

1090

1100

Fresh short positions are recommended with a fixed stop-loss only if the stock falls below ₹1070 levels



₹267 • ITC

S1

S2

R1

R2

COMMENT

265

263

269

272

Initiate fresh long positions with a tight stop-loss if the stock of ITC bounces up from ₹265 levels



₹196 • ONGC

S1

S2

R1

R2

COMMENT

194

191

200

203

Make use of intra-day rallies to initiate fresh short position with a fixed stop-loss at ₹200 levels



₹947 • Reliance Ind.

S1

S2

R1

R2

COMMENT

937

930

955

965

Initiate fresh long positions with a stiff stop-loss only if the stock of RIL climbs above ₹955 levels



₹302 • SBI

S1

S2

R1

R2

COMMENT

295

290

306

310

Fresh short positions are recommended with a tight stop-loss only if the stock drops below ₹295 levels



₹2747 • TCS

S1

S2

R1

R2

COMMENT

2730

2710

2770

2790

Consider initiating fresh long positions with a stiff stop-loss if the stock reverses higher from ₹2730 levels



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

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