Day trading guide for April 16, 2024: Intraday supports, resistances for Nifty50 stocks bl-premium-article-image

BL Research Bureau Updated - April 16, 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, 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.

₹1495 • HDFC Bank

S1

S2

R1

R2

COMMENT

1485

1460

1510

1540

Go short only below 1485. Keep the stop-loss at 1495

₹1467 • Infosys

S1

S2

R1

R2

COMMENT

1460

1445

1475

1500

Go short below 1460. Keep the stop-loss at 1465

₹426 • ITC

S1

S2

R1

R2

COMMENT

423

420

428

430

Go short now and at 427. Stop-loss can be kept at 429

₹280 • ONGC

S1

S2

R1

R2

COMMENT

278

274

285

290

Take fresh longs now and at 279. Keep the stop-loss at 277

₹2933 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2890

2830

2970

3010

Go short only below 2890. Keep the stop-loss at 2910

₹758 • SBI

S1

S2

R1

R2

COMMENT

749

740

762

772

Go short now and at 761. Stop-loss can be kept at 764

₹3942 • TCS

S1

S2

R1

R2

COMMENT

3920

3860

3960

4030

Go short on a break below 3920. Stop-loss can be kept at 3935

22364 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

22240

22150

22410

22520

Go short now and at 22390. Keep the stop-loss at 22430

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

Published on April 16, 2024 00:45

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