Day Trading Guide for March 19

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

₹2261 • HDFC Bank

S1

S2

R1

R2

COMMENT

2250

2235

2275

2300

Initiate fresh short positions with a stop-loss at ₹2,265 if the stock breaks below ₹2,250

 

₹709 • Infosys

S1

S2

R1

R2

COMMENT

705

695

720

725

Hovers above a crucial support. Go short with a stop-loss at ₹715 if Infosys breaks below ₹705.

 

₹292 • ITC

S1

S2

R1

R2

COMMENT

290

286

294

298

Wait for dips and go long if ITC reverses higher from ₹290. Keep the stop-loss at ₹287

 

₹155 • ONGC

S1

S2

R1

R2

COMMENT

151

148

158

162

Initiate fresh long positions with a stop-loss at ₹155 only if ONGC breaks above ₹158.

 

₹1347 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1310

1285

1365

1400

Outlook is bullish. Go long and also accumulate on dips. Stop-loss can be placed at ₹1290

 

₹298 • SBI

S1

S2

R1

R2

COMMENT

294

290

300

308

Resistance ahead. Go long only if SBI breaks above ₹300. Keep the stop-loss at ₹297

 

₹2021 • TCS

S1

S2

R1

R2

COMMENT

2000

1980

2035

2070

Near-term view is unclear. Avoid trading this stock until a clear trading signal emerges

 

11494 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11470

11430

11530

11600

Go long only if the index futures reverse higher from 11,470. Keep the stop-loss at 11,420

 

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

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