Day Trading Guide for February 28

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

₹1904 • HDFC Bank

S1

S2

R1

R2

COMMENT

1894

1880

1915

1925

Make use of intra-day declines to buy the stock while maintaining a stiff stop-loss at ₹1894 levels

 

₹1148 • Infosys

S1

S2

R1

R2

COMMENT

1140

1130

1160

1170

Fresh long positions can be initiated with a tight stop-loss if the stock of Infosys reverses higher from ₹1140 levels

 

₹266 • ITC

S1

S2

R1

R2

COMMENT

264

261

269

271

Utilise intra-day rallies to initiate fresh short positions while retaining a fixed stop-loss at ₹269 levels

 

₹188 • ONGC

S1

S2

R1

R2

COMMENT

185

182

190

193

Consider initiating fresh short positions with a stiff stop-loss only if the stock of ONGC drops below ₹185 levels

 

₹949 • Reliance Ind.

S1

S2

R1

R2

COMMENT

940

930

956

964

Initiate fresh long positions with a tight stop-loss if the stock of RIL rebounds up from ₹940 levels

 

₹267 • SBI

S1

S2

R1

R2

COMMENT

264

257

272

277

Near-term outlook is bearish for the stock of SBI. Sell the stock in rallies with a stiff stop-loss at ₹272 levels

 

₹3043 • TCS

S1

S2

R1

R2

COMMENT

3020

3000

3060

3080

Fresh long positions are recommended with a tight stop-loss only if the stock advances above ₹3060 levels

 

10564 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10510

10460

10610

10660

Consider initiating fresh long positions with a stiff stop-loss only if the contract advances above 10610 levels

 

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

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