Day Trading Guide For November-08

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

₹1824 • HDFC Bank

S1

S2

R1

R2

COMMENT

1815

1790

1844

1880

Initiate fresh short positions only if the stock breaks below ₹1,815. Keep the stop-loss at ₹1,825



₹956 • Infosys

S1

S2

R1

R2

COMMENT

940

920

970

1000

Bullish outlook is intact. Go long and also accumulate on dips. Stop-loss can be placed at ₹930



₹266 • ITC

S1

S2

R1

R2

COMMENT

263

260

268

272

Initate fresh short positions with a stop-loss at ₹266 if the stock declines below ₹263



₹194 • ONGC

S1

S2

R1

R2

COMMENT

192

186

200

206

Support ahead. Go long with a stop-loss at ₹190 if the stock reverses higher from ₹192.



₹907 • Reliance Ind.

S1

S2

R1

R2

COMMENT

890

860

920

938

Wait for rallies and go short with a stop-loss at ₹935 if the stock reverses lower from ₹920



₹317 • SBI

S1

S2

R1

R2

COMMENT

312

305

323

328

Resistance ahead. Make use of rallies to go short near ₹321. Keep the stop-loss at ₹326.



₹2708 • TCS

S1

S2

R1

R2

COMMENT

2700

2670

2745

2800

Initiate fresh short positions if the stock breaks below ₹2700. Stop-loss can be kept at ₹2720



10410 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10370

10345

10430

10465

Resistance ahead. Go short with a stop-loss at 10,455 if the contract reverses lower from 10,430.



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

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