Day Trading Guide for March 20

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

₹2267 • HDFC Bank

S1

S2

R1

R2

COMMENT

2250

2235

2280

2295

Fresh long positions are recommended with a fixed stop-loss only if the stock advances above ₹2,280 levels

 

₹721 • Infosys

S1

S2

R1

R2

COMMENT

713

705

730

736

Initiate fresh long positions with a stiff stop-loss if the stock of Infosys rebounds up from ₹705 levels

 

₹299 • ITC

S1

S2

R1

R2

COMMENT

297

294

303

306

Outlook is bullish for the stock of ITC. Make use of dips to buy the stock with a fixed stop-loss at ₹297 levels

 

₹157 • ONGC

S1

S2

R1

R2

COMMENT

154

151

160

163

Make use of intra-day rally to initiate fresh short positions while maintaining a tight stop-loss at ₹160 levels

 

₹1375 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1360

1345

1387

1400

Consider initiating fresh long positions with a stiff stop-loss if the stock of RIL climbs above ₹1,387 levels

 

₹302 • SBI

S1

S2

R1

R2

COMMENT

295

287

307

313

Initiate fresh short positions with a tight stop-loss only if the stock of SBI falls below ₹295 levels

 

₹2024 • TCS

S1

S2

R1

R2

COMMENT

2000

1980

2045

2065

Fresh long positions can be initiated with a fixed stop-loss only if the stock moves beyond ₹2,045 levels

 

11570 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11520

11475

11620

11670

Consider initiating fresh long positions with a tight stop-loss only if the contract rallies above 11,620 levels

 

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

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