Day trading guide

Day Trading Guide for March 12, 2020

| Updated on March 11, 2020 Published on March 12, 2020

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

₹1112 • HDFC Bank

S1

S2

R1

R2

COMMENT

1098

1086

1125

1145

Initiate fresh long positions with a stiff stop-loss if the stock reverses higher from ₹1,098 levels

 

₹685 • Infosys

S1

S2

R1

R2

COMMENT

676

670

695

704

Fresh long positions can be initiated with a fixed stop-loss only if the stock rebounds up from ₹676 levels

 

₹175 • ITC

S1

S2

R1

R2

COMMENT

173

171

179

181

Make use of intra-day dips to buy the stock of ITC while maintaining a fixed stop-loss at ₹173 levels

 

₹71 • ONGC

S1

S2

R1

R2

COMMENT

69

66

74

77

Fresh long positions are recommended with a tight stop-loss only if the stock advances above ₹74 levels

 

₹1153 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1140

1125

1166

1180

Consider initiating fresh long positions with a fixed stop-loss if the stock reverses higher from ₹1,140 levels

 

₹245 • SBI

S1

S2

R1

R2

COMMENT

240

235

253

260

Utilise intra-day dips to buy the stock of SBI while retaining a stiff stop-loss at ₹240 levels

 

₹1954 • TCS

S1

S2

R1

R2

COMMENT

1935

1915

1975

1995

Initiate fresh short positions with a fixed stop-loss if the stock of TCS moves beyond ₹1,975 levels

 

10450 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10400

10350

10510

10575

Consider initiating fresh long positions with a tight stop-loss if the contract rallies above 10,510 levels

 

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

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Published on March 12, 2020
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