Day trading guide

Day Trading Guide for March 17, 2020

| Updated on March 17, 2020 Published on March 17, 2020

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

₹999 • HDFC Bank

S1

S2

R1

R2

COMMENT

980

955

1036

1050

As the trend is bearish, traders can initiate fresh short positions in the stock with stop-loss at ₹1,036

 

₹583 • Infosys

S1

S2

R1

R2

COMMENT

570

545

610

620

The stock continues to fall and breached a key support. Sell the stock below ₹570 with stop-loss at ₹600

 

₹147 • ITC

S1

S2

R1

R2

COMMENT

145

137

155

160

Consider initiating fresh short positions with a fixed stop-loss if the stock of ITC slips below ₹145 levels

 

₹60 • ONGC

S1

S2

R1

R2

COMMENT

56

50

64

67

Initiate fresh short positions with stop-loss at ₹64 as the stock is witnessing substantial selling pressure.

 

₹1015 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1000

970

1045

1100

The trend is bearish, but ₹1,000 is a considerable support. So, short the stock with tight stop-loss below ₹1,000.

 

₹223 • SBI

S1

S2

R1

R2

COMMENT

220

210

228

240

Initiate fresh short positions with a tight stop-loss if the stock of SBI moves below ₹220 levels

 

₹1696 • TCS

S1

S2

R1

R2

COMMENT

1672

1640

1750

1820

Fresh short positions can be initiated with stop-loss at ₹1,750 if the stock breaches support at ₹1,672

 

9118 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9100

9000

9160

9200

Initiate fresh short positions with stop-loss at 9160 if the contract decisively falls below 9,100 levels

 

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

Published on March 17, 2020
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