Day trading guide

Day Trading Guide for March 6, 2020

| Updated on March 05, 2020

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

₹1151 • HDFC Bank

S1

S2

R1

R2

COMMENT

1135

1120

1165

1180

Initiate fresh short positions with a fixed stop-loss if the stock fails to move beyond ₹1,165 levels

 

₹754 • Infosys

S1

S2

R1

R2

COMMENT

747

740

762

773

Fresh short positions can be initiated with a stiff stop-loss if the stock of Infosys falls below ₹747 levels

 

₹187 • ITC

S1

S2

R1

R2

COMMENT

185

182

190

193

Consider initiating fresh long positions with a tight stop-loss if the stock of ITC rallies above ₹190 levels

 

₹92 • ONGC

S1

S2

R1

R2

COMMENT

90

87

96

99

Initiate fresh long positions with a fixed stop-loss only if the stock of ONGC reverses higher from ₹90 levels

 

₹1311 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1295

1280

1325

1340

Fresh short positions are recommended with a stiff stop-loss only if the stock of RIL falls below ₹1,295 levels

 

₹288 • SBI

S1

S2

R1

R2

COMMENT

282

274

296

304

Fresh long positions can be initiated with a tight stop-loss if the stock of SBI rebounds up from ₹282 levels

 

₹2124 • TCS

S1

S2

R1

R2

COMMENT

2105

2083

2145

2165

Make use of intra-day dips to initiate fresh long positions while maintaining a fixed stop-loss at ₹2,105 levels

 

11255 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11200

11150

11300

11350

Fresh long positions can be initiated with a tight stop-loss only if the contract rallies above 11,300 levels

 

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

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Published on March 06, 2020
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