Day Trading Guide for March 8

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

₹1834 • HDFC Bank

S1

S2

R1

R2

COMMENT

1824

1811

1845

1855

Make use of intra-day rallies to initiate fresh short positions while retaining a fixed stop-loss at ₹1845 levels

 

₹1142 • Infosys

S1

S2

R1

R2

COMMENT

1135

1125

1157

1168

Fresh long positions can be initiated with a tight stop-loss if the stock of Infosys rebounds up from ₹1135 levels

 

₹259 • ITC

S1

S2

R1

R2

COMMENT

256

253

261

264

Initiate fresh long positions with a stiff stop-loss only if the stock of ITC moves beyond ₹261 levels

 

₹180 • ONGC

S1

S2

R1

R2

COMMENT

178

175

184

187

Fresh short positions are recommended with a fixed stop-loss only if the stock drops below ₹178 levels

 

₹891 • Reliance Ind.

S1

S2

R1

R2

COMMENT

880

870

900

910

Make use of intra-day rallies to initiate fresh short positions while maintaining a fixed stop-loss at ₹900 levels

 

₹246 • SBI

S1

S2

R1

R2

COMMENT

242

238

250

256

Fresh long positions can be initiated with a tight stop-loss only if the stock of SBI reverses higher from ₹242 levels

 

₹3029 • TCS

S1

S2

R1

R2

COMMENT

3010

2990

3050

3050

Consider initiating fresh short positions with a stiff stop-loss if the stock declines below ₹3010 levels

 

10171 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10125

10070

10220

10270

Fresh long positions are recommended with a tight stop-loss only if the contract climbs above 10220 levels

 

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

Read the rest of this article by Signing up for Portfolio.It's completely free!

What You'll Get





Related

MORE FROM BUSINESSLINE


 Getting recommendations just for you...
This article is closed for comments.
Please Email the Editor