Day Trading Guide For March 6

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

10365 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10320

10260

10410

10457

Fresh short positions are recommended with a tight stop-loss only if the contract declines below 10,320 levels

 

₹1872 • HDFC Bank

S1

S2

R1

R2

COMMENT

1860

1850

1885

1895

Consider initiating fresh short positions with a stiff stop-loss if the stock declines below ₹1860 levels

 

₹1153 • Infosys

S1

S2

R1

R2

COMMENT

1144

1130

1160

1170

Make use of intra-day dips to buy the stock of Infosys while maintaining a tight stop-loss at ₹1144 levels

 

₹260 • ITC

S1

S2

R1

R2

COMMENT

258

255

262

265

Utilise intra-day rallies to initiate fresh short positions while retaining a fixed stop-loss at ₹262 levels

 

₹185 • ONGC

S1

S2

R1

R2

COMMENT

182

180

188

191

Initiate fresh short positions with a stiff stop-loss if the stock of ONGC fails to move beyond ₹188 levels

 

₹924 • Reliance Ind.

S1

S2

R1

R2

COMMENT

915

905

935

945

Fresh short positions can be initiated with a tight stop-loss if the stock of RIL declines below ₹915 levels

 

₹263 • SBI

S1

S2

R1

R2

COMMENT

259

255

267

272

Make use of intra-day dips to buy the stock of SBI with a fixed stop-loss at ₹259 levels

 

₹3104 • TCS

S1

S2

R1

R2

COMMENT

3080

3060

3120

3140

Near-term outlook is bullish for the stock. Buy in dips while maintaining a stiff stop-loss at ₹3080 levels

 

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

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