Day Trading Guide For November 6

 

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

₹1952 • HDFC Bank

S1

S2

R1

R2

COMMENT

1940

1925

1965

1980

Initiate fresh long positions with a stiff stop-loss if the stock reverses higher from ₹1,940 levels

 

₹662 • Infosys

S1

S2

R1

R2

COMMENT

654

644

670

680

Consider initiating fresh short positions with a tight stop-loss only if the stock falls below ₹654 levels

 

₹279 • ITC

S1

S2

R1

R2

COMMENT

277

274

283

286

Fresh short positions are recommended with a stiff stop-loss only if the stock ITC declines below ₹277 levels

 

₹154 • ONGC

S1

S2

R1

R2

COMMENT

151

148

158

161

Initiate fresh short positions with a fixed stop-loss if the stock of ONGC fails to move beyond ₹158 levels

 

₹1088 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1070

1055

1100

1120

Fresh long positions can be initiated with a stiff stop-loss if the stock of RIL advances above ₹1,100 levels

 

₹295 • SBI

S1

S2

R1

R2

COMMENT

290

285

300

305

Near-term outlook is bullish for the stock of SBI. Buy in declines with a stiff stop-loss at ₹290 levels

 

₹1889 • TCS

S1

S2

R1

R2

COMMENT

1870

1850

1914

1935

Make use of intra-day rallies to initiate fresh short positions while maintaining a fixed stop-loss at ₹1,914 levels

 

10550 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10500

10450

10600

10650

Fresh long positions can be initiated with a stiff stop-loss if the contract rebounds up from 10,500 levels

 

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

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