Day trading guide

Day Trading Guide for April 07, 2020

| Updated on April 07, 2020 Published on April 07, 2020

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

₹813 • HDFC Bank

S1

S2

R1

R2

COMMENT

795

775

830

850

Consider initiating fresh long positions with a stiff stop-loss only if the stock moves beyond ₹830 levels

 

₹585 • Infosys

S1

S2

R1

R2

COMMENT

575

565

597

610

Initiate fresh long positions with a tight stop-loss if the stock of Infosys rallies above ₹597 levels

 

₹177 • ITC

S1

S2

R1

R2

COMMENT

173

167

183

189

Near-term stance is positive for the stock of ITC. Buy in declines while maintaining a stop-loss at ₹173 levels

 

₹69 • ONGC

S1

S2

R1

R2

COMMENT

66

63

72

75

Fresh long positions can be initiated with a stiff stop-loss if the stock of ONGC rebounds up from ₹66 levels

 

₹1078 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1060

1040

1100

1120

The stock tests a key resistance at ₹1,100. Go long with a tight stop-loss on a strong rally above this level

 

₹175 • SBI

S1

S2

R1

R2

COMMENT

170

160

183

195

Fresh long positions are recommended with a stiff stop-loss only if the stock of SBI advances above ₹183 levels

 

₹1654 • TCS

S1

S2

R1

R2

COMMENT

1635

1610

1680

1710

Fresh short positions can be initiated with a tight stop-loss if the stock of TCS fails to move beyond ₹1,680 levels

 

8084 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

8000

7900

8200

8330

Consider initiating fresh long positions with a tight stop-loss only if the contract jumps above 8,200 levels

 

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

Published on April 07, 2020

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