Day Trading Guide For December-07

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

10068 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10020

9970

10110

10160

Fresh short positions can be initiated with a tight stop-loss if the contract declines below 10,020 levels



₹1802 • HDFC Bank

S1

S2

R1

R2

COMMENT

1790

1780

1812

1823

Make use of intra-day rallies to initiate fresh short positions with a stiff stop-loss placed at ₹1812 levels



₹990 • Infosys

S1

S2

R1

R2

COMMENT

980

970

1000

1010

The stock is experiencing buying interest at lower levels. Buy in dips while maintaining a stop-loss at ₹980 levels



₹251 • ITC

S1

S2

R1

R2

COMMENT

249

247

253

255

Near-term outlook is bearish for the stock of ITC. Sell it during intra-day rallies with a fixed stop-loss at ₹253 levels



₹175 • ONGC

S1

S2

R1

R2

COMMENT

173

171

179

182

The stock has breached an immediate support level. Make use of rallies to sell the stock with a stop-loss at ₹179



₹927 • Reliance Ind.

S1

S2

R1

R2

COMMENT

920

910

938

950

Initiate fresh long positions with a tight stop-loss if the stock of RIL rebounds up from ₹920 levels



₹312 • SBI

S1

S2

R1

R2

COMMENT

308

304

319

322

Fresh short positions can be initiated with a stiff stop-loss only if the stock declines below ₹308 levels



₹2631 • TCS

S1

S2

R1

R2

COMMENT

2620

2600

2650

2670

Consider initiating fresh long positions with a fixed stop-loss only if the stock moves beyond ₹2650 levels



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

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