Day Trading Guide For April 26

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

₹1917 • HDFC Bank

S1

S2

R1

R2

COMMENT

1905

1894

1927

1938

Fresh short positions can be initiated with a stiff stop-loss if the stock fails to move beyond ₹1927 levels

 

₹1160 • Infosys

S1

S2

R1

R2

COMMENT

1150

1140

1171

1180

Consider initiating fresh long positions with a fixed stop-loss only if the stock rallies above ₹1171 levels

 

₹273 • ITC

S1

S2

R1

R2

COMMENT

271

269

276

279

Make use of intra-day dips to buy the stock of ITC while maintaining a tight stop-loss at ₹271 levels

 

₹182 • ONGC

S1

S2

R1

R2

COMMENT

180

178

186

189

Make use of intra-day declines to buy the stock of ONGC while retaining a fixed stop-loss at ₹180 levels

 

₹970 • Reliance Ind.

S1

S2

R1

R2

COMMENT

960

950

980

990

As long as the stock trades above ₹960, the near-term stance remains positive. Buy in declines

 

₹237 • SBI

S1

S2

R1

R2

COMMENT

234

230

241

246

Fresh short positions are recommended with a fixed stop-loss only if the stock of SBI drops below ₹234 levels

 

₹3467 • TCS

S1

S2

R1

R2

COMMENT

3440

3410

3490

3520

Initiate fresh long positions with a stiff stop-loss if the stock of TCS reverses higher from ₹3440 levels

 

10569 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10520

10470

10610

10650

The contract is range-bound between 10,520 and 10,610. Desist trading as long as it moves within this range

 

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

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