Day Trading Guide for March 12

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

₹2130 • HDFC Bank

S1

S2

R1

R2

COMMENT

2115

2103

2144

2158

Consider initiating fresh long positions with a fixed stop-loss only if the stock rallies above ₹2,144 levels

 

₹711 • Infosys

S1

S2

R1

R2

COMMENT

705

697

720

727

Fresh short positions are recommended with a stiff stop-loss if the stock of Infosys falls below ₹705 levels

 

₹293 • ITC

S1

S2

R1

R2

COMMENT

290

287

296

299

The stock tests a key resistance. Initiate fresh long positions with a tight stop-loss on a bounce from ₹290

 

₹153 • ONGC

S1

S2

R1

R2

COMMENT

150

147

155

158

Fresh long positions can be initiated with a stiff stop-loss if the stock of ONGC advances above ₹155 levels

 

₹1301 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1285

1270

1315

1330

Near-term outlook is bullish for RIL. Make use of dips to buy with a fixed stop-loss at ₹1,285 levels

 

₹286 • SBI

S1

S2

R1

R2

COMMENT

281

276

294

300

With good volume, the stock of SBI continues to trend upwards. Buy in declines with a stiff stop-loss at ₹281 levels

 

₹2014 • TCS

S1

S2

R1

R2

COMMENT

1990

1970

2033

2050

Consider initiating fresh long positions with a stiff stop-loss only if the stock moves beyond ₹2033 levels

 

11202 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11150

11100

11250

11300

Initiate fresh long positions with a tight stop-loss if the contract reverses higher from 11,150 levels

 

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

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