Day Trading Guide for February 24, 2022

BL Research Bureau | Updated on: Feb 23, 2022

₹1500 • HDFC Bank

S1

S2

R1

R2

COMMENT

1490

1470

1535

1575

Just above a support. Go short only if the stock breaks below 1490. Keep the stop-loss at 1505

₹1743 • Infosys

S1

S2

R1

R2

COMMENT

1725

1690

1760

1800

Hovers around a resistance. Go short on a break below 1725. Stop-loss can be placed at 1745

₹216 • ITC

S1

S2

R1

R2

COMMENT

213

210

218

221

Immediate outlook is not clear. Avoid trading this stock until a clear trend emerges.

₹161 • ONGC

S1

S2

R1

R2

COMMENT

160

157

163

167

Breaks the range on the downside and turns bearish. Go short with a stop-loss at 165

₹2371 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2345

2305

2395

2425

Downtrend resumes. Go short now and accumulate at 2390. Keep the stop-loss at 2410.

₹498 • SBI

S1

S2

R1

R2

COMMENT

495

491

501

506

Can see a fresh fall from here. Initiate new short positions with a stop-loss at 503

₹3572 • TCS

S1

S2

R1

R2

COMMENT

3550

3510

3610

3630

Can extend the fall from current levels. Go short now with a stop-loss at 3615

17067 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

17000

16850

17120

17250

Bias is bearish. Go short with a stop-loss at 17130 if the contract breaks below 17000

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

Published on February 24, 2022
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