Day trading guide

Day Trading Guide for March 3, 2020

| Updated on March 02, 2020

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

₹1182 • HDFC Bank

S1

S2

R1

R2

COMMENT

1170

1155

1195

1210

Initiate fresh short positions with a fixed stop-loss if the stock reverses down from ₹1,195 levels

 

₹744 • Infosys

S1

S2

R1

R2

COMMENT

735

725

755

765

Fresh long positions are recommended with a tight stop-loss only if the stock of Infosys rallies above ₹755 levels

 

₹195 • ITC

S1

S2

R1

R2

COMMENT

193

191

198

201

Consider initiating fresh long positions with a stiff stop-loss if the stock of ITC reverses higher from ₹193 levels

 

₹89 • ONGC

S1

S2

R1

R2

COMMENT

87

85

92

95

Fresh short positions can be initiated with a fixed stop-loss if the stock of ONGC fails to move beyond ₹92 levels

 

₹1314 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1300

1285

1330

1345

The trades above a key support level of ₹1,300. Go short only if it declines below this base with a tight stop-loss

 

₹287 • SBI

S1

S2

R1

R2

COMMENT

282

274

296

303

Near-term stance is bearish for the stock. Sell on rallies while maintaining a stiff stop-loss at ₹296 levels

 

₹1999 • TCS

S1

S2

R1

R2

COMMENT

1980

1960

2020

2045

Initiate fresh long positions with a fixed stop-loss only if the stock advances above ₹2020 levels

 

11123 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11070

11020

11175

11225

Consider initiating fresh short positions with a tight stop-loss only if the contract fails to rally above 11,175 levels

 

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

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Published on March 03, 2020
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