Day Trading Guide For April 17

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

₹1938 • HDFC Bank

S1

S2

R1

R2

COMMENT

1930

1920

1950

1960

Initiate fresh long positions with a fixed stop-loss if the stock rebounds up from ₹1930 levels

 

₹1132 • Infosys

S1

S2

R1

R2

COMMENT

1120

1110

1140

1150

Fresh short positions are recommended with a stiff stop-loss only if the stock of Infosys drops below ₹1120 levels

 

₹264 • ITC

S1

S2

R1

R2

COMMENT

262

260

267

270

Make use of intra-day dips to initiate fresh long positions while maintaining a fixed stop-loss at ₹262 levels

 

₹181 • ONGC

S1

S2

R1

R2

COMMENT

179

176

184

187

Consider initiating fresh long positions with a tight stop-loss only if the stock of ONGC moves beyond ₹184

 

₹937 • Reliance Ind.

S1

S2

R1

R2

COMMENT

930

920

950

960

Fresh short positions can be initiated with a stiff stop-loss if the stock fails to move above ₹950 levels

 

₹249 • SBI

S1

S2

R1

R2

COMMENT

245

241

254

257

Initiate fresh long positions with a tight stop-loss if the stock of SBI reverses higher from ₹245 levels.

 

₹3184 • TCS

S1

S2

R1

R2

COMMENT

3160

3140

3200

3220

Fresh long positions can be initiated with a fixed stop-loss only if the stock rallies above ₹3200 levels

 

10542 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10500

10450

10580

10625

Fresh long positions can be initiated with a tight stop-loss if the contract manages to move beyond 10,580 levels

 

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

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