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.

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