Day Trading Guide for March 31, 2022

BL Research Bureau | Updated on: Mar 30, 2022

₹1476 • HDFC Bank

S1

S2

R1

R2

COMMENT

1470

1445

1490

1520

Crucial resistance ahead. Go short with a stop-loss at 1510 if the stock turns down from 1490

₹1918 • Infosys

S1

S2

R1

R2

COMMENT

1870

1850

1925

1950

Key resistance ahead. Go short with a stop-loss at 1935 only if the stock reverses lower from 1925.

₹249 • ITC

S1

S2

R1

R2

COMMENT

245

241

252

256

Near-term top in place. Can see a correction. Go short now and at 251 with a stop-loss at 254

₹162 • ONGC

S1

S2

R1

R2

COMMENT

158

155

165

171

Bearish view is intact. Go short now and accumulate at 164. Stop-loss can be kept at 167.

₹2673 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2650

2600

2690

2725

Seems to lack upside momentum. Go short with a stop-loss at 2670 if the stock breaks below 2650.

₹494 • SBI

S1

S2

R1

R2

COMMENT

489

485

497

500

Outlook is negative. Initiate fresh short positions now and at 496. Keep the stop-loss at 499.

₹3730 • TCS

S1

S2

R1

R2

COMMENT

3720

3690

3735

3760

Initiate fresh long positions only if the stock breaks above 3735. Stop-loss can be kept at 3720

17493 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

17400

17300

17550

17650

Needs to gain momentum. Go long with a stop-loss at 17430 only on a break above 17550.

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

Published on March 31, 2022
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