Day Trading Guide for April 4, 2019

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

₹2295 • HDFC Bank

S1

S2

R1

R2

COMMENT

2285

2270

2310

2322

Fresh short positions can be initiated with a tight stop-loss if the stock reverses down from ₹2,310 levels

 

₹754 • Infosys

S1

S2

R1

R2

COMMENT

747

740

760

767

Initiate fresh long positions with a stiff stop-loss only if the stock of Infosys advances above ₹760 levels

 

₹295 • ITC

S1

S2

R1

R2

COMMENT

293

290

299

303

Consider initiating fresh short positions with a fixed stop-loss if the stock declines below ₹293 levels

 

₹155 • ONGC

S1

S2

R1

R2

COMMENT

152

149

158

161

Make use of intra-day rallies to initiate fresh short positions while maintaining a stiff stop-loss at ₹158 levels

 

₹1373 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1360

1344

1388

1402

Fresh short positions can be initiated with a fixed stop-loss if the stock of RIL fails to rally above ₹1,388 levels

 

₹320 • SBI

S1

S2

R1

R2

COMMENT

313

305

326

333

The stock experiences selling pressure at higher levels. Selling in intra-day rallies with a stop-loss at ₹326 levels

 

₹2080 • TCS

S1

S2

R1

R2

COMMENT

2060

2040

2100

2120

Fresh long positions are recommended with a fixed stop-loss only if the stock rallies beyond ₹2,100 levels

 

11729 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11680

11630

11780

11825

Consider initiating fresh short positions with a tight stop-loss if the contract reverses down from 11,780 levels

 

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

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