Day trading guide for April 5, 2024: Intraday supports, resistances for Nifty50 stocks bl-premium-article-image

BL Research Bureau Updated - April 05, 2024 at 09:50 AM.

Day trading guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.

₹1527 • HDFC Bank

S1

S2

R1

R2

COMMENT

1500

1480

1540

1560

Good upward momentum. Buy with stop-loss at 1500.

₹1486 • Infosys

S1

S2

R1

R2

COMMENT

1480

1465

1500

1525

Trend is bearish but there is a strong support; stay away.

₹422 • ITC

S1

S2

R1

R2

COMMENT

420

412

430

435

No momentum on either side. Do not trade this stock.

₹269 • ONGC

S1

S2

R1

R2

COMMENT

268

265

275

280

Buy as the stock is near a support; stop-loss at 265.

₹2926 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2900

2880

2960

3000

Trading near a support; go long with stop-loss at 2880.

₹759 • SBI

S1

S2

R1

R2

COMMENT

755

750

775

790

Go long if it breaks out of 765; place stop-loss at 750.

₹4003 • TCS

S1

S2

R1

R2

COMMENT

3970

3930

4025

4050

Initiate longs on a breakout of 4025; stop-loss at 3970.

22637 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

22530

22450

22650

22750

Buy if it breaks out of 22650; place stop-loss at 22580.

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

Published on April 5, 2024 00:33

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