Day Trading Guide for April 12, 2019

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

₹2256 • HDFC Bank

S1

S2

R1

R2

COMMENT

2242

2230

2268

2280

Fresh short positions can be initiated with a fixed stop-loss if the stock fails to move beyond ₹2,268 levels

 

₹743 • Infosys

S1

S2

R1

R2

COMMENT

735

727

750

757

Consider initiating fresh short positions with a fixed stop-loss if the stock of Infosys declines below ₹735 levels

 

₹296 • ITC

S1

S2

R1

R2

COMMENT

293

290

299

302

Fresh long positions are recommended with a stiff stop-loss only if the stock of ITC rallies above ₹299 levels

 

₹158 • ONGC

S1

S2

R1

R2

COMMENT

155

152

161

164

Initiate fresh long positions with a tight stop-loss if the stock of ONGC rebounds up from ₹155 levels

 

₹1346 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1332

1315

1360

1375

Fresh long positions can be initiated with a fixed stop-loss only if the stock advances above ₹1,360 levels

 

₹314 • SBI

S1

S2

R1

R2

COMMENT

308

300

320

326

Initiate fresh short positions with a stiff stop-loss only if the stock of SBI falls below ₹308 levels

 

₹2019 • TCS

S1

S2

R1

R2

COMMENT

2000

1980

2042

2060

Make use of intra-day rallies to go short in the stock while maintaining a tight stop-loss at ₹2,042 levels

 

11668 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11620

11570

11720

11770

Consider initiating fresh long positions with a fixed stop-loss if the contract climbs above 11,720 levels

 

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

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