Day Trading Guide For October 24

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

₹1985 • HDFC Bank

S1

S2

R1

R2

COMMENT

1974

1960

1998

2010

Fresh short positions can be initiated with a fixed stop-loss if the stock declines below ₹1,974 levels

 

₹657 • Infosys

S1

S2

R1

R2

COMMENT

650

640

670

680

Near-term outlook is bearish for the stock of Infosys. Sell in rallies with a stiff stop-loss at ₹670 levels

 

₹285 • ITC

S1

S2

R1

R2

COMMENT

283

280

289

292

Consider initiating fresh long positions with a fixed stop-loss only if the stock reverses higher from ₹283 levels

 

₹155 • ONGC

S1

S2

R1

R2

COMMENT

153

150

159

162

Make use of intra-day dips to buy the stock of ONGC while maintaining a fixed stop-loss at ₹153 levels

 

₹1052 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1040

1020

1067

1080

Initiate fresh short positions with a tight stop-loss only if the stock of RIL fails to move beyond ₹1,066 levels

 

₹255 • SBI

S1

S2

R1

R2

COMMENT

250

245

260

265

Fresh short positions are recommended with a stiff stop-loss only if the stock falls below ₹250 levels

 

₹1844 • TCS

S1

S2

R1

R2

COMMENT

1820

1800

1865

1885

Make use of intra-day rallies to sell the stock while retaining a tight stop-loss at ₹1,865 levels

 

10147 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10100

10050

10200

10250

Consider initiating fresh long positions with a tight stop-loss if the contract manages to move beyond 10,200 levels

 

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

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