Day trading guide

Day Trading Guide for November 16, 2018

| Updated on November 15, 2018 Published on November 15, 2018

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

₹1974 • HDFC Bank

S1

S2

R1

R2

COMMENT

1955

1930

1990

2010

Near-term view is positive. Go long and also accumulate on dips with a stop-loss at ₹1,945

₹656 • Infosys

S1

S2

R1

R2

COMMENT

647

638

667

680

Short-term outlook has turned negative. Initiate fresh short positions with a stop-loss at ₹668

₹274 • ITC

S1

S2

R1

R2

COMMENT

273

267

280

285

Hovers above a key support. Go short with a stop-loss at ₹276 only if ITC breaks below ₹273

₹159 • ONGC

S1

S2

R1

R2

COMMENT

155

151

160

162

Near-term view is unclear. Avoid trading this stock until a clear trend and a trade signal emerges

₹1097 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1085

1060

1115

1140

Resistance ahead. Go long only if RIL breaks above ₹1,115. Keep the stop-loss at ₹1,095

₹285 • SBI

S1

S2

R1

R2

COMMENT

280

277

288

292

Initiate fresh long positions with a stop-loss at ₹284 only if SBI breaks above ₹288

₹1865 • TCS

S1

S2

R1

R2

COMMENT

1860

1820

1900

1945

Outlook is negative. Go short and also accumulate on rallies. Keep the stop-loss at ₹1,910

10623 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10580

10550

10660

10690

Wait for dips and go long with a stop-loss at 10,565 if the index futures reverse higher from 10,580

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

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