Day trading guide for April 12, 2024: Intraday supports, resistances for Nifty50 stocks bl-premium-article-image

BL Research Bureau Updated - April 12, 2024 at 06:15 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, and 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.

₹1535 • HDFC Bank

S1

S2

R1

R2

COMMENT

1525

1500

1550

1580

Buy when the price dips to 1525; place stop-loss at 1500.

₹1506 • Infosys

S1

S2

R1

R2

COMMENT

1490

1470

1510

1530

Go long if it breaks out of 1510; place stop-loss at 1490.

₹436 • ITC

S1

S2

R1

R2

COMMENT

430

420

445

450

Buy now and on a dip to 425; keep a stop-loss at 418.

₹271 • ONGC

S1

S2

R1

R2

COMMENT

270

266

275

280

Stock in a sideways crawl; refrain from fresh trades.

₹2958 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2950

2900

2980

3000

Trend unclear. Stay away from initiating new positions.

₹779 • SBI

S1

S2

R1

R2

COMMENT

775

765

790

800

Appears positive. Buy the stock with a stop-loss at 770.

₹3982 • TCS

S1

S2

R1

R2

COMMENT

3925

3900

4030

4100

Initiate longs on a breakout of 4030; stop-loss at 3970.

22812 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

22750

22650

22900

23000

Buy if it breaks out of 22850; place stop-loss at 22780.

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

Published on April 12, 2024 00:45

This is a Premium article available exclusively to our subscribers.

Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...

You have reached your free article limit.

Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...

You have reached your free article limit.
Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...

TheHindu Businessline operates by its editorial values to provide you quality journalism.

This is your last free article.