Day Trading Guide For October 18, 2022

BL Research Bureau Updated - October 18, 2022 at 06:00 AM.

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.

₹1446 • HDFC Bank

S1	S2	R1	R2	COMMENT
1430	1415	1450	1465	Go short on a reversal from 1450. Keep the stop-loss at 1460.

₹1490 • Infosys

S1	S2	R1	R2	COMMENT
1470	1450	1500	1530	Go long on break above 1500. Stop-loss can be kept at 1485.

₹332 • ITC

S1	S2	R1	R2	COMMENT
331	329	336	338	Initiate fresh long positions now with a tight stop-loss at 330.

₹128 • ONGC

S1	S2	R1	R2	COMMENT
126	124	130	133	Wait for a rise and go short at 129. Keep the stop-loss at 132

₹2410 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2390	2345	2425	2450	Go long on a break above 2425. Keep the stop-loss at 2410

₹544 • SBI

S1	S2	R1	R2	COMMENT
540	536	547	550	Bullish. Go long now and at 541 with a stop-loss at 539

₹3112 • TCS

S1	S2	R1	R2	COMMENT
3090	3070	3145	3200	Immediate outlook is unclear. Avoid trading this stock for now.

17305 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
17230	17140	17400	17500	Go long now and on dips at 17260. Keep the stop-loss at 17190

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

Published on October 18, 2022 00:30