Day trading guide

Day Trading Guide for March 24, 2020

| Updated on March 24, 2020 Published on March 24, 2020

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

770 • HDFC Bank

S1

S2

R1

R2

COMMENT

755

740

785

800

Initiate fresh short positions with a tight stop-loss only if the stock fails to move above ₹785 levels

 

₹526 • Infosys

S1

S2

R1

R2

COMMENT

514

500

540

560

Consider initiating fresh long positions with a fixed stop-loss only if the stock of Infosys rallies beyond ₹540 levels

 

₹154 • ITC

S1

S2

R1

R2

COMMENT

149

144

158

164

Initiate fresh long positions with a fixed stop-loss if the stock of ITC reverses higher from ₹149 levels

 

₹60 • ONGC

S1

S2

R1

R2

COMMENT

58

55

63

67

Fresh long positions are recommended with a stiff stop-loss only if the stock of ONGC rallies above ₹63 levels

 

₹883 • Reliance Ind.

S1

S2

R1

R2

COMMENT

870

850

900

920

Consider initiating fresh short positions with a tight stop-loss only if the stock declines below ₹870 levels

 

₹181 • SBI

S1

S2

R1

R2

COMMENT

175

165

188

200

Initiate fresh short positions with a stiff stop-loss only if the stock of SBI reverses down from ₹188 levels

 

₹1662 • TCS

S1

S2

R1

R2

COMMENT

1640

1620

1680

1700

Make use of intra-day dips to buy the stock of TCS while maintaining a stiff stop-loss at ₹1,640 levels

 

7581 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

7500

7400

7700

7850

Consider initiating fresh long positions with a tight stop-loss only if the contract advances above 7,700 levels

 

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

Published on March 24, 2020
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