Day Trading Guide For April 12

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

₹1916 • HDFC Bank

S1

S2

R1

R2

COMMENT

1905

1890

1925

1935

Fresh short positions are recommended with a stiff stop-loss if the stock falls below ₹1905 levels

 

₹1123 • Infosys

S1

S2

R1

R2

COMMENT

1114

1105

1132

1145

Consider initiating fresh long positions with a tight stop-loss only if the stock reverses higher from ₹1114 levels

 

₹264 • ITC

S1

S2

R1

R2

COMMENT

252

248

267

270

Initiate fresh long positions with a fixed stop-loss if the stock of ITC advances above ₹267 levels

 

₹181 • ONGC

S1

S2

R1

R2

COMMENT

179

176

185

188

The stock is experiencing a volatile movement. Tread with a caution and go long only if it moves beyond ₹185 levels

 

₹929 • Reliance Ind.

S1

S2

R1

R2

COMMENT

920

910

940

950

As long as the stock trades above ₹920, the near-term outlook stays positive. Buy in dips with a fixed stop-loss

 

₹257 • SBI

S1

S2

R1

R2

COMMENT

252

247

263

267

Initiate fresh short positions with a fixed stop-loss if the stock fails to move beyond ₹263 levels

 

₹3015 • TCS

S1

S2

R1

R2

COMMENT

2995

2995

3030

3050

The stock moved out of a narrow range and rallied almost 3 per cent last session. Buy in dips

 

10425 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10375

10325

10460

10505

Consider initiating fresh short positions with a fixed stop-loss only if the contract declines below 10,375 levels

 

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

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