Day trading guide

Day Trading Guide for November 7, 2019

| Updated on November 06, 2019 Published on November 07, 2019

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

₹1256 • HDFC Bank

S1

S2

R1

R2

COMMENT

1250

1240

1265

1282

The stock has reached the upper end of the recent range and hence intiate short positions with tight stop-loss.

₹712 • Infosys

S1

S2

R1

R2

COMMENT

710

700

715

736

Short-term trend remains bullish and so long positions can be initiated in dips with stop-loss at ₹695 levels.

₹261 • ITC

S1

S2

R1

R2

COMMENT

260

257

266

269

Stock of ITC is bullish in the near-term. Initiate fresh buys with a stop-loss at ₹257 levels.

₹144 • ONGC

S1

S2

R1

R2

COMMENT

143

140

149

152

ONGC is approaching an important support. One can buy the stock with a fixed stop-loss at ₹143 levels.

₹1434 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1420

1390

1445

1460

The stock continues its corrective decline. Initiate fresh short positions on rallies with stop-loss at ₹1450 levels.

₹317 • SBI

S1

S2

R1

R2

COMMENT

312

303

327

335

Short-term trend looks to be on the upside and one can buy the stock in dips with stop-loss at ₹312 level.

₹2188 • TCS

S1

S2

R1

R2

COMMENT

2180

2160

2220

2240

Near-term outlook is negative and the stock is trading below a key level. Sell the stock with stop-loss at ₹2220 levels

12008 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11966

11930

12050

12100

The contract registers a fresh high and sentiment looks positive. Initiate fresh long positions with tight stop-loss

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

Published on November 07, 2019
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