Day Trading Guide for October 26

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

₹1969 • HDFC Bank

S1

S2

R1

R2

COMMENT

1955

1940

1985

2000

Fresh short positions can be initiated with a stiff stop-loss if the stock reverses down from ₹1,985 levels

 

₹649 • Infosys

S1

S2

R1

R2

COMMENT

640

630

660

670

Consider initiating fresh long positions with a tight stop-loss only if the stock of Infosys moves beyond ₹660 levels

 

₹287 • ITC

S1

S2

R1

R2

COMMENT

284

281

290

293

Make use of intra-day declines to buy the stock of ITC while retaining a fixed stop-loss at ₹284 levels

 

₹155 • ONGC

S1

S2

R1

R2

COMMENT

153

150

158

162

Fresh long positions are recommended with a tight stop-loss only if the stock advances above ₹158 levels

 

₹1030 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1015

1000

1046

1060

The stock witnesses buying interest at lower levels. Buy in dips with a fixed stop-loss at ₹1000 level

 

₹249 • SBI

S1

S2

R1

R2

COMMENT

245

240

255

261

Fresh short positions are recommended with a stiff stop-loss only if the stock of SBI falls below ₹245 levels

 

₹1852 • TCS

S1

S2

R1

R2

COMMENT

1830

1810

1870

1895

Initiate fresh long positions with fixed stop-loss if the stock manages to rebound from ₹1,830 levels

 

10121 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10070

10020

10180

10228

Initiate fresh long positions with tight stop-loss only if the contract moves beyond 10,180 levels

 

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

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