Day trading guide

Day Trading Guide for October 8, 2020

| Updated on October 07, 2020 Published on October 08, 2020

₹1162 • HDFC Bank

S1

S2

R1

R2

COMMENT

1150

1133

1170

1200

The trend is bullish for the stock. Initiate fresh long positions for intraday with stop-loss at ₹1,040

₹1066 • Infosys

S1

S2

R1

R2

COMMENT

1050

1030

1085

1100

The stock has broken out of a short-term consolidation phase. Hence, buy with a stop-loss at ₹1,030

₹169 • ITC

S1

S2

R1

R2

COMMENT

168

165

172

175

Initiate fresh short positions with a tight stop-loss if the stock of ITC falls below the support of ₹168

₹70 • ONGC

S1

S2

R1

R2

COMMENT

67

65

72

75

Since the stock is able to trade above ₹70, consider going long for intraday with tight stop-loss

₹2257 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2240

2200

2300

2335

Consider initiating fresh long positions in the stock in intraday dips with a stop-loss at ₹2,200

₹190 • SBI

S1

S2

R1

R2

COMMENT

187

183

194

200

The price action looks favourable and so go long in the stock in dips with stop-loss at ₹187

₹2736 • TCS

S1

S2

R1

R2

COMMENT

2700

2650

2750

2800

Consider initiating fresh long positions in TCS with a tight stop-loss if it breaks out of ₹2,750

11750 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11700

11675

11800

11850

Since the price action looks bullish, traders can buy the contract for intraday with stop-loss at 11,675

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

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Published on October 08, 2020
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