Day trading guide

Day Trading Guide for October 31, 2019

| Updated on October 31, 2019 Published on October 31, 2019

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

₹1248 • HDFC Bank

S1

S2

R1

R2

COMMENT

1235

1220

1260

1275

Fresh long positions are recommended with a fixed stop-loss only if the stock advances above ₹1,260 levels

 

₹660 • Infosys

S1

S2

R1

R2

COMMENT

650

640

670

680

Initiate fresh long positions with a stiff stop-loss if the stock of Infosys reverses higher from ₹650 levels

 

₹259 • ITC

S1

S2

R1

R2

COMMENT

256

253

262

265

Near-term stance is bullish for the stock of ITC. Make use of intra-day dips to buy it with a stop-loss at ₹256 levels

 

₹140 • ONGC

S1

S2

R1

R2

COMMENT

137

134

143

146

Consider initiating fresh long positions with a fixed stop-loss only if the stock of ONGC rallies above ₹143 levels

 

₹1478 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1464

1450

1490

1505

The stock of RIL trades in the overbought territory. Hence, traders should trade with caution at current levels

 

₹289 • SBI

S1

S2

R1

R2

COMMENT

283

275

299

308

Make use of intra-day dips to buy the stock of SBI while maintaining a fixed stop-loss at ₹283 levels

 

₹2253 • TCS

S1

S2

R1

R2

COMMENT

2230

2210

2275

2295

The stock tests a key resistance at current levels. Go long with a stiff stop-loss on a strong rally above ₹2,275 levels

 

11840 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11795

11750

11890

11940

Initiate fresh long positions with a tight stop-loss if the contract rebounds up from 11,795 levels

 

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

Published on October 31, 2019
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