Day trading guide

Day Trading Guide for October 31

Gurumurthy K BL Research Bureau | Updated on October 30, 2018 Published on October 30, 2018

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

₹1914 • HDFC Bank

S1

S2

R1

R2

COMMENT

1900

1875

1930

1960

Outlook is bearish. Go short with a stop-loss at ₹1,920 if the stock breaks below ₹1,900

₹660 • Infosys

S1

S2

R1

R2

COMMENT

655

648

663

668

Initiate fresh long positions only if ITC breaks above ₹663. Keep the stop-loss at ₹659

₹279 • ITC

S1

S2

R1

R2

COMMENT

276

270

282

285

Near-term view is negative. Go short and also accumulate on rallies with a stop-loss at ₹284

₹153 • ONGC

S1

S2

R1

R2

COMMENT

150

145

157

163

Initiate fresh short positions with a stop-loss at ₹153 only if ONGC breaks below ₹150

₹1057 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1040

1020

1075

1090

Hovers above a support. Go short with a stop-loss at ₹1,065 if RIL breaks below ₹1,040.

₹273 • SBI

S1

S2

R1

R2

COMMENT

270

260

280

292

Initiate fresh long positions with a stop-loss at ₹275 only if SBI breaks above ₹280.

₹1895 • TCS

S1

S2

R1

R2

COMMENT

1870

1845

1915

1960

Wait for dips and go long if TCS reverses higher from ₹1,870. Keep the stop-loss at ₹1,855

10229 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10180

10100

10280

10320

Initiate fresh short positions with a stop-loss at 10,210 only if the index futures break below 10,180.

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

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