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:

₹2122 • HDFC Bank

S1

S2

R1

R2

COMMENT

2110

2095

2135

2148

Fresh long positions can be initiated with a stiff stop-loss if the stock rallies above ₹2,135 levels

 

₹723 • Infosys

S1

S2

R1

R2

COMMENT

716

707

730

737

Initiate fresh short positions with a tight stop-loss if the stock of Infosys reverses down from ₹730 levels

 

₹290 • ITC

S1

S2

R1

R2

COMMENT

287

284

293

296

Make use of intra-day dips to buy the stock of ITC while maintaining a fixed stop-loss at ₹287 levels

 

₹152 • ONGC

S1

S2

R1

R2

COMMENT

150

147

155

158

Consider initiating fresh long positions with a stiff stop-loss only if the stock of ONGC moves beyond ₹155 levels

 

₹1269 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1255

1240

1280

1295

Fresh long positions can be initiated with a tight stop-loss if the stock of RIL rebounds up from ₹1,255 levels

 

₹281 • SBI

S1

S2

R1

R2

COMMENT

276

270

287

295

Near-term stance is bullish for the stock of SBI. Buy in declines with a stiff stop-loss at ₹276 levels

 

₹2011 • TCS

S1

S2

R1

R2

COMMENT

1990

1970

2030

2050

Fresh long positions are recommended with a fixed stop-loss only if the stock of TCS climbs above ₹2030 levels

 

11098 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11050

11000

11150

11200

Make use of intra-day dips to go long on the contract while retaining a fixed stop-loss at 11,050 levels

 

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

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