Top 2 Sectoral ‘Intraday’ Picks for 24th January 4/5 (1)

Intraday Tips

(1) Yes Bank:

The stock is again witnessing a surge in demand from lower levels. On a Daily Time frame chart, there is appearance of a triangle Pattern which indicates an ongoing consolidation at current levels of 197-198. The immediate intraday resistance for the stock stands at 199.55 above which Intraday longs may be initiated.

Trade Date- 24/01/2019

Intraday levels for the stock-

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >199.55 197.70 201.40 203

(2) ITC:

ITC witnessed a strong selling pressure in the last trading session. The sell-off was accompanied by strong volumes and a good roller over data of 35.85%. Strong rollover indicates strong sellers in queue and the negative sentiment in the counter may still prevail. The stock is already trading below the major support levels of 20, 10 EMA and is poised to give a further breakdown below the immediate support of 275.

Intraday levels for the stock-

Action
Trigger Price
Stop Loss
Target 1
Target 2
Sell <274.90 278 272 268

*All levels mentioned are of cash segment.

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Author: Traders' Chowk

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