Day Trading Guide For October 23

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

₹1993 • HDFC Bank

S1

S2

R1

R2

COMMENT

1975

1960

2005

2020

Consider initiating fresh long positions with a tight stop-loss only if the stock rallies above ₹2,005 levels

 

₹678 • Infosys

S1

S2

R1

R2

COMMENT

670

660

690

700

Fresh short positions can be initiated with a stiff stop-loss if the stock falls below ₹670 levels

 

₹288 • ITC

S1

S2

R1

R2

COMMENT

285

282

292

295

Initiate fresh long positions with a tight stop-loss if the stock of ITC reverses higher from ₹285 levels

 

₹156 • ONGC

S1

S2

R1

R2

COMMENT

153

150

160

164

Fresh long positions are recommended with a fixed stop-loss only if the stock of ONGC moves above ₹160 levels

 

₹1062 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1048

1030

1080

1100

Make use of intra-day rallies to initiate fresh short positions while maintaining a stiff stop-loss at ₹1,080 levels

 

₹259 • SBI

S1

S2

R1

R2

COMMENT

255

250

265

270

Initiate fresh long positions with a tight stop-loss only if the stock of SBI moves beyond ₹265 levels

 

₹1902 • TCS

S1

S2

R1

R2

COMMENT

1880

1860

1920

1940

Consider initiating fresh long positions with a fixed stop-loss only if the stock climbs above ₹1,920 levels

 

10231 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10180

10130

10275

10330

Fresh long positions are recommended with a tight stop-loss only if the contract advances above 10,275 levels

 

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

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