Day Trading Guide For April 20

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

₹1941 • HDFC Bank

S1

S2

R1

R2

COMMENT

1930

1920

1950

1960

Fresh long positions are recommended with a fixed stop-loss only if the stock climbs beyond ₹1950 levels

 

₹1132 • Infosys

S1

S2

R1

R2

COMMENT

1120

1110

1143

1150

The stock witnesses buying interest at lower levels. Buy in declines with a stiff stop-loss at ₹1120 levels

 

₹277 • ITC

S1

S2

R1

R2

COMMENT

275

272

280

283

Initiate fresh long positions with a fixed stop-loss if the stock of ITC rebounds up from ₹275 levels

 

₹183 • ONGC

S1

S2

R1

R2

COMMENT

180

171

185

188

Fresh long positions can be initiated with a tight stop-loss if the stock of ONGC advances above ₹185 levels

 

₹941 • Reliance Ind.

S1

S2

R1

R2

COMMENT

930

920

948

958

Consider initiating fresh short positions with a stiff stop-loss only if the stock slumps below ₹930 levels

 

₹246 • SBI

S1

S2

R1

R2

COMMENT

243

239

250

255

Make use of intra-day rallies to initiate fresh short positions while maintaining a fixed stop-loss at ₹250 levels

 

₹3190 • TCS

S1

S2

R1

R2

COMMENT

3170

3150

3210

3130

As long as the stock trades above ₹3170, the near-term view stays positive. Buy in dips with a fixed stop-loss

 

10578 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10540

10500

10625

10665

Consider initiating fresh long positions with a tight stop-loss only if the contract rebounds up from 10,540 levels

 

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

Read the rest of this article by Signing up for Portfolio.It's completely free!

What You'll Get





Related

MORE FROM BUSINESSLINE


 Getting recommendations just for you...
This article is closed for comments.
Please Email the Editor