Day Trading Guide For September-08

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

9954 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9910

9860

10010

10050

Fresh short are recommended with a fixed stop-loss only if the contract declines below 9910 levels



₹1770 • HDFC Bank

S1

S2

R1

R2

COMMENT

1760

1750

1780

1790

Make use of intra-day dips to initiate fresh long positions with a stiff stop-loss at ₹1760 levels



₹895 • Infosys

S1

S2

R1

R2

COMMENT

885

875

905

915

Consider initiating fresh short positions with a tight stop-loss if the stock slips below ₹885 levels



₹270 • ITC

S1

S2

R1

R2

COMMENT

268

265

273

276

Near-term outlook is bearish for the stock of ITC. Sell the stock in rallies with a stiff stop-loss at ₹273 levels



₹162 • ONGC

S1

S2

R1

R2

COMMENT

160

157

165

168

Make use of intra-day dips to initiate fresh long positions while maintaining a fixed stop-loss at ₹160 levels



₹818 • Reliance Ind.

S1

S2

R1

R2

COMMENT

813

805

825

833

Bonus adjusted. The stock tests a key resistance at current levels. Go long only on a rally above ₹825 levels



₹274 • SBI

S1

S2

R1

R2

COMMENT

271

268

277

280

Initiate fresh short positions with a stiff stop-loss if the stock of SBI fails to move beyond ₹277 levels



₹2458 • TCS

S1

S2

R1

R2

COMMENT

2440

2420

2477

2500

The stock tests a key support at current levels. Go short if the stock declines below ₹2440 levels



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

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