Day Trading Guide For September-20

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

₹1851 • HDFC Bank

S1

S2

R1

R2

COMMENT

1840

1820

1870

1900

Initiate fresh short positions if the stock breaks below ₹1,840. Keep the stop-loss at ₹1,855



₹911 • Infosys

S1

S2

R1

R2

COMMENT

895

880

920

950

Short-term outlook is bullish. Go long and also accumulate on dips with a stop-loss at ₹890



₹268 • ITC

S1

S2

R1

R2

COMMENT

264

260

270

274

Downtrend is intact. Initiate short positions and also accumulate on rallies with a stop-loss at ₹272



₹166 • ONGC

S1

S2

R1

R2

COMMENT

163

160

168

170

Wait for dips and go long if the stock bounces from ₹163. Stop-loss can be paced at ₹161



₹840 • Reliance Ind.

S1

S2

R1

R2

COMMENT

838

825

850

860

Hovers above a support. Go short if RIL declines below ₹838. Keep the stop-loss at ₹842



₹268 • SBI

S1

S2

R1

R2

COMMENT

266

260

270

275

Initiate fresh long positions with a stop-loss at ₹268 only if the stock breaks above ₹270



₹2498 • TCS

S1

S2

R1

R2

COMMENT

2475

2450

2560

2550

Near-term view is unclear. Avoid trading this stock until a clear trend emerges



10169 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10135

10100

10190

10220

Go long only if the index futures break above 10,190. Stop-loss can be placed at 10,175



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

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