Day Trading Guide For September 12

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

₹2000 • HDFC Bank

S1

S2

R1

R2

COMMENT

1985

1960

2010

2035

Outlook is bearish. Go short and also accumulate on rallies. Stop-loss can be placed at ₹2025

 

₹734 • Infosys

S1

S2

R1

R2

COMMENT

720

700

750

765

Initiate fresh long positions with a stop-loss at ₹735 only if Infosys breaks decisively above ₹750

 

₹297 • ITC

S1

S2

R1

R2

COMMENT

295

290

300

305

Downmove is gaining momentum. Initiate fresh short positions with a stop-loss at ₹303

 

₹168 • ONGC

S1

S2

R1

R2

COMMENT

165

162

170

173

Downtrend is intact. Go short and also accumulate on rallies. Keep the stop-loss at ₹172

 

₹1238 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1230

1200

1250

1285

Hovers above a support. Go short with a stop-loss at ₹1245 if RIL declines below ₹1230

 

₹282 • SBI

S1

S2

R1

R2

COMMENT

273

260

291

300

Near-term view is negative. Initiate fresh short positions with a stop-loss at ₹295

 

₹2045 • TCS

S1

S2

R1

R2

COMMENT

2020

2000

2065

2095

Outlook is negative. Initiate fresh short positions at current levels. Keep the stop-loss at ₹2075

 

11336 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11280

11230

11370

11400

Outlook is bearish. Go short and also accumulate on rallies. Stop-loss can be placed at 11,385

 

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

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