Day trading guide

Day Trading Guide For January-17

Yoganand D BL Research Bureau | Updated on January 16, 2018 Published on January 16, 2018

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

10709 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10660

10610

10750

10800

Fresh short positions can be initiated with a tight stop-loss if the contract fails to rally above 10,750 levels



₹1903 • HDFC Bank

S1

S2

R1

R2

COMMENT

1894

1885

1915

1925

Near-term stance is bullish for the stock of HDFC Bank. Buy in dips with a fixed stop-loss at ₹1894 levels



₹1122 • Infosys

S1

S2

R1

R2

COMMENT

1110

1100

1132

1140

Make use of intra-day dips to initiate fresh long position with a stiff stop-loss at ₹1,110 levels



₹261 • ITC

S1

S2

R1

R2

COMMENT

259

256

264

267

Fresh short positions can be initiated with a tight stop-loss if the stock of ITC fails to move beyond ₹264 levels



₹197 • ONGC

S1

S2

R1

R2

COMMENT

194

191

200

203

Fresh short positions are recommended with a tight stop-loss only if the stock declines below ₹194 levels



₹923 • Reliance Ind.

S1

S2

R1

R2

COMMENT

913

900

935

945

Consider initiating fresh short positions with a stiff stop-loss if the stock reverses down from ₹935 levels



₹296 • SBI

S1

S2

R1

R2

COMMENT

292

287

301

306

The stock has breached a key support last session. Sell the stock in rallies while maintaining a stop-loss at ₹301



₹2850 • TCS

S1

S2

R1

R2

COMMENT

2830

2810

2870

2890

Utilise intra-day declines to buy the stock while retaining a stiff stop-loss at ₹2830 levels



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

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