Day trading guide

Day Trading Guide for October 4, 2019

| Updated on October 04, 2019 Published on October 04, 2019

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

₹1223 • HDFC Bank

S1

S2

R1

R2

COMMENT

1220

1208

1235

1260

Initiate long positions at ₹1,220 levels with stop loss below the immediate support level of ₹1,208

 

₹785 • Infosys

S1

S2

R1

R2

COMMENT

775

765

802

810

Go short with a fixed stop-loss if the stock of Infosys reverses down from ₹802 levels

 

₹261 • ITC

S1

S2

R1

R2

COMMENT

259

253

262

269

Initate fresh long positions only if the stock of ITC moves beyond ₹262 with stop loss below the support at ₹259

 

₹128 • ONGC

S1

S2

R1

R2

COMMENT

125

122

131

134

Initiate fresh short positions on intra-day rallies if the stock of ONGC fails to rally above ₹131

 

₹1311 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1290

1275

1320

1335

Make use of intra-day correction to initiate fresh long positions with a fixed stop-loss

 

₹254 • SBI

S1

S2

R1

R2

COMMENT

250

244

263

270

The stock of SBI looks weak and so initiate fresh short positions with stop-loss at ₹263 levels

 

₹2060 • TCS

S1

S2

R1

R2

COMMENT

2040

2020

2080

2100

Fresh short positions can be initiated on rallies with a fixed stop-loss above the resistance at ₹2,080 levels

 

11361 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11330

11300

11380

11445

Consider initiating fresh short positions with tight stop-loss on intra-day rallies until the resistance at 11,380 holds

 

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

Published on October 04, 2019
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