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.

Published on February 28, 2020
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