Day trading guide

Day Trading Guide for March 20, 2020

| Updated on March 20, 2020 Published on March 20, 2020

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

₹894 • HDFC Bank

S1

S2

R1

R2

COMMENT

880

865

910

925

Fresh long positions can be initiated with a tight stop-loss if the stock reverses higher from ₹880 levels

 

₹545 • Infosys

S1

S2

R1

R2

COMMENT

535

525

555

565

Initiate fresh long positions with a stiff stop-loss only if the stock of Infosys moves beyond ₹555 levels

 

₹161 • ITC

S1

S2

R1

R2

COMMENT

158

154

164

168

Near-term outlook is bullish for the stock of ITC. Buy in declines while maintaining a stop-loss at ₹158 levels

 

₹61 • ONGC

S1

S2

R1

R2

COMMENT

59

57

64

67

Consider initiating fresh long positions with a fixed stop-loss if the stock of ONGC advances above ₹64 levels

 

₹917 • Reliance Ind.

S1

S2

R1

R2

COMMENT

900

880

940

960

Initiate fresh short positions with a stiff stop-loss only if the stock of RIL declines below ₹900 levels

 

₹203 • SBI

S1

S2

R1

R2

COMMENT

195

185

212

220

Fresh long positions can be initiated with a fixed stop-loss only if the stock moves beyond ₹212 levels

 

₹1636 • TCS

S1

S2

R1

R2

COMMENT

1610

1580

1660

1690

Initiate fresh long positions with a fixed stop-loss if the stock of TCS rebounds up from ₹1,610 levels

 

8205 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

8100

8000

8300

8400

The contract will remain choppy. Consider initiating fresh long positions with a fixed stop-loss above 8,300 levels

 

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

Published on March 20, 2020
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