Day Trading Guide For November 17

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

10250 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10200

10150

10300

10350

As long as the contract trades above 10,200 the near term view stays positive. Buy with a fixed stop-loss



₹1805 • HDFC Bank

S1

S2

R1

R2

COMMENT

1795

1780

1815

1825

The stock continues to test a key support level. Go short with a fixed stop-loss only if it declines below ₹1795



₹988 • Infosys

S1

S2

R1

R2

COMMENT

980

970

1000

1010

Near-term outlook is bullish for the stock of Infosys. Buy in dips while maintaining a stiff stop-loss at ₹980 levels



₹255 • ITC

S1

S2

R1

R2

COMMENT

252

520

257

260

Fresh long positions are recommended with a tight stop-loss only if the stock of ITC moves beyond ₹257 levels



₹179 • ONGC

S1

S2

R1

R2

COMMENT

177

174

182

185

Make use of intra-day rallies to initiate fresh short positions in the stock while retaining a tight stop-loss at ₹182



₹902 • Reliance Ind.

S1

S2

R1

R2

COMMENT

892

882

912

920

Make use of intra-day declines to initiate fresh long positions in the stock of RIL with a fixed stop-loss at ₹892 levels



₹333 • SBI

S1

S2

R1

R2

COMMENT

329

325

338

342

Initiate fresh long positions with a tight stop-loss if the stock of SBI reverses higher from ₹329 levels



₹2746 • TCS

S1

S2

R1

R2

COMMENT

2720

2700

2760

2780

Consider initiating fresh long positions with a stiff stop-loss if the stock advances above ₹2760 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