Day trading guide

Day Trading Guide for February 28, 2020

| Updated on February 27, 2020 Published on February 28, 2020

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

₹1199 • HDFC Bank

S1

S2

R1

R2

COMMENT

1186

1170

1213

1225

Fresh long positions are recommended with a stiff stop-loss only if the stock rallies above ₹1,213 levels

 

₹777 • Infosys

S1

S2

R1

R2

COMMENT

772

760

790

800

Initiate fresh long positions with a tight stop-loss if the stock of Infosys breaks out of ₹780

 

₹197 • ITC

S1

S2

R1

R2

COMMENT

196

193

201

204

Initiate fresh short positions with stop-loss at ₹200 if the stock declines below ₹196

 

₹93 • ONGC

S1

S2

R1

R2

COMMENT

91

85

95

98

Sell the stock of ONGC on rallies with a stop-loss at ₹97 as the trend remains considerably bearish

 

₹1386 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1375

1360

1405

1420

Near-term stance is bearish for the stock of RIL. Make use of intra-day rallies to go short with a stop-loss at ₹1,405

 

₹321 • SBI

S1

S2

R1

R2

COMMENT

316

313

325

330

Fresh short positions are recommended in the stock of SBI with a stop-loss at ₹326 as price action hints at a decline

 

₹2105 • TCS

S1

S2

R1

R2

COMMENT

2080

2040

2120

2145

Short-term trend is bearish. But sell the stock of TCS with stop-loss at ₹2120 only if the price slips below ₹2090

 

11618 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11600

11558

11670

11716

The contract is hovering around an important support. Go long with tight stop-loss on a strong rally above 11,640 levels

 

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

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on February 28, 2020
This article is closed for comments.
Please Email the Editor