Day Trading Guide for March 22

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

₹2299 • HDFC Bank

S1

S2

R1

R2

COMMENT

2285

2270

2315

2330

The stock tests a key resistance at ₹2,300 levels. Near-term view is cautious, avoid trading in the stock for the session

 

₹738 • Infosys

S1

S2

R1

R2

COMMENT

730

722

748

758

Make use of intra-day dips to buy the stock of Infosys while maintaining a fixed stop-loss at ₹730 levels

 

₹298 • ITC

S1

S2

R1

R2

COMMENT

296

293

302

305

Fresh long positions can be initiated with a fixed stop-loss if the stock of ITC reverses higher from ₹296 levels

 

₹151 • ONGC

S1

S2

R1

R2

COMMENT

148

145

154

157

Initiate fresh short positions with a stiff stop-loss if the stock of ONGC falls below ₹148 levels

 

₹1375 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1360

1345

1387

1400

Consider initiating fresh short positions with a fixed stop-loss only if the stock reverses down from ₹307 levels

 

₹303 • 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

 

₹2015 • TCS

S1

S2

R1

R2

COMMENT

2000

1980

2035

2060

Initiate fresh long positions with a fixed stop-loss only if the stock advances above ₹2,035 levels

 

11553 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11500

11450

11600

11650

Fresh long positions can be initiated with a tight stop-loss only if the contract rebounds up from 11,500 levels

 

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

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