Day Trading Guide For March 23

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

₹1868 • HDFC Bank

S1

S2

R1

R2

COMMENT

1858

1845

1880

1890

Fresh short positions can be initiated with a stiff stop-loss if the stock fails to move beyond ₹1880 levels

 

₹1158 • Infosys

S1

S2

R1

R2

COMMENT

1150

1140

1170

1180

Consider initiating fresh long positions with a tight stop-loss only if the stock of Infosys climbs above ₹1170 levels

 

₹258 • ITC

S1

S2

R1

R2

COMMENT

256

253

261

264

Initiate fresh short positions with a fixed stop-loss if the stock reverses down from ₹261 levels

 

₹178 • ONGC

S1

S2

R1

R2

COMMENT

176

173

182

185

Make use of intra-day dips to buy the stock of ONGC while maintaining a tight stop-loss at ₹176 levels

 

₹907 • Reliance Ind.

S1

S2

R1

R2

COMMENT

896

887

916

925

Fresh long positions can be initiated with a stiff stop-loss if the stock of RIL rebounds up from ₹896 levels

 

₹241 • SBI

S1

S2

R1

R2

COMMENT

237

233

246

254

The stock tests a significant support level at around current level. Desist trading in the stock of SBI for the session

 

₹2829 • TCS

S1

S2

R1

R2

COMMENT

2810

2785

2850

2875

Fresh short positions are recommended with a fixed stop-loss only if the stock declines below ₹2810 levels

 

10127 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10078

10030

10180

10230

Consider initiating fresh short positions with a tight stop-loss only if the contract falls below 10,078 levels

 

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

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