Day Trading Guide For February 22

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

₹1859 • HDFC Bank

S1

S2

R1

R2

COMMENT

1850

1840

1875

1887

Fresh short positions can be initiated with a fixed stop-loss only if the stock declines below ₹1850 levels

 

₹1148 • Infosys

S1

S2

R1

R2

COMMENT

1140

1130

1160

1170

Near-term stance is positive for the stock of Infosys. Make use of dips to buy the stock with a stop-loss at ₹1140

 

₹268 • ITC

S1

S2

R1

R2

COMMENT

265

262

271

274

Negating the bearish view, the stock advanced 2 per cent last sessions. Go long only if the stock rallies above ₹271

 

₹190 • ONGC

S1

S2

R1

R2

COMMENT

187

185

194

197

Make use of intra-day declines to buy the stock of ONGC while maintaining a fixed stop-loss at ₹187 levels

 

₹928 • Reliance Ind.

S1

S2

R1

R2

COMMENT

920

910

940

950

Consider initiating fresh long positions with a stiff stop-loss only if the stock advances above ₹940 levels

 

₹273 • SBI

S1

S2

R1

R2

COMMENT

268

263

278

283

Make use of intra-day dips to buy the stock while retaining a fixed stop-loss at ₹268 levels

 

₹3043 • TCS

S1

S2

R1

R2

COMMENT

3020

3000

3060

3080

Last session, the stock gained 3.3 per cent with good volume witnessing buying interest. Buy in declines.

 

10392 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10343

10300

10440

10490

Initiate fresh long positions with a stiff stop-loss if the contract advances above 10440 levels

 

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

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