Day trading guide

Day Trading Guide for October 07, 2021

| Updated on October 06, 2021

₹1615 • HDFC Bank

S1

S2

R1

R2

COMMENT

1600

1580

1625

1650

Short the stock if it reverses down between ₹1,625 and ₹1,640. Place stop-loss at ₹1,655

₹1673 • Infosys

S1

S2

R1

R2

COMMENT

1660

1640

1700

1715

Risk-reward favours longs as ₹1,660 is a strong base. Buy on a rebound with stop-loss at ₹1,640

₹231 • ITC

S1

S2

R1

R2

COMMENT

230

224

234

236

Near-term downtrend is intact. Go short on a break below ₹230 and place stop-loss at ₹234

₹168 • ONGC

S1

S2

R1

R2

COMMENT

166

160

170

173

Resistance hold and the price can correct from current level. So, go short with stop-loss at ₹171

₹2560 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2550

2525

2575

2615

Despite softening, the stock is above key support. Hence, one can risk buying with stop-loss at ₹2,525

₹457 • SBI

S1

S2

R1

R2

COMMENT

455

450

460

465

Stock can bounce from here since it is at a support. Yet, buy above ₹460 and place stop-loss at ₹455

₹3811 • TCS

S1

S2

R1

R2

COMMENT

3800

3780

3850

3900

Support at ₹3,800 stays valid and the scrip can see a rebound. Go long with stop-loss at ₹3,750

17627 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

17600

17530

17700

17745

Bears seems to have an upper hand over bulls and so, one can short on rallies with stop-loss at 17,710

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

Published on October 07, 2021

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