Day Trading Guide for April 20, 2022

BL Research Bureau | Updated on: Apr 19, 2022

₹1342 • HDFC Bank

S1

S2

R1

R2

COMMENT

1300

1250

1370

1415

Outlook is bearish. Go short now and on a rise to 1370. Stop-loss can be placed at 1400.

₹1562 • Infosys

S1

S2

R1

R2

COMMENT

1540

1470

1590

1630

Since 1540 is a support, short when this level is breached. Stop-loss can be at 1570.

₹262 • ITC

S1

S2

R1

R2

COMMENT

256

250

265

270

There is a support at 256. Short if this is broken and place stop-loss at 265.

₹177 • ONGC

S1

S2

R1

R2

COMMENT

175

172

178

181

Initiate fresh short positions with a stop-loss at 177 only if the stock breaks below 175.

₹2641 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2600

2555

2680

2740

Go long in the stock if it breaks out of 2680. Keep stop-loss at 2630.

₹512 • SBI

S1

S2

R1

R2

COMMENT

505

498

515

521

Moving up with the sideways range. Go long now and on dips at 506 with a stop-loss at 502

₹3472 • TCS

S1

S2

R1

R2

COMMENT

3400

3320

3565

3585

Short the stock if it breaks below the support of 3400. Place stop-loss at 3500.

16969 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

16800

16600

17100

17200

Go short now and on a rally to 17100 as the price action is bearish. Stop-loss at 17200.

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

Published on April 20, 2022
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