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.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on October 04, 2019
technical analysis
This article is closed for comments.
Please Email the Editor