Day trading guide

Day Trading Guide for October 22, 2020

| Updated on October 21, 2020 Published on October 22, 2020

₹1246 • HDFC Bank

S1

S2

R1

R2

COMMENT

1236

1200

1260

1275

Since the stock is trading with positive momentum, go long in declines with stop-loss at ₹1,220

₹1148 • Infosys

S1

S2

R1

R2

COMMENT

1120

1090

1162

1186

The stock exhibits sluggishness. So, buy with stop-loss at ₹1,120 if only price breaks out of ₹1,150

₹167 • ITC

S1

S2

R1

R2

COMMENT

165

163

171

174

As the stock continues to show downward bias, initiate fresh short positions with stop-loss at ₹170

₹68 • ONGC

S1

S2

R1

R2

COMMENT

66.8

65.7

68.25

70

Consider initiating fresh long positions with a tight stop-loss if the stock rallies above ₹68.25

₹2124 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2070

2000

2175

2220

Bears seem to be gaining strength and hence, short the stock on rallies with stop-loss at ₹2,175

₹204 • SBI

S1

S2

R1

R2

COMMENT

200

196

207

210

Stock rebounding after a fall in yesterday's session indicate buying interest; So, buy with stop at ₹200

₹2675 • TCS

S1

S2

R1

R2

COMMENT

2640

2600

2720

2760

Since the price action is bearish, fresh short positions can be initiated on rallies with stop-loss at ₹2,720

11927 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11870

11825

12000

12050

Though trend is up, there is downward pressure as the contract rallies. Buy only on the break of 12,000

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

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Published on October 22, 2020
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