Day Trading Guide For August 1

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

₹2181 • HDFC Bank

S1

S2

R1

R2

COMMENT

2165

2150

2195

2210

Fresh short positions are recommended with a tight stop-loss only if the stock declines below ₹2,165 levels

 

₹1365 • Infosys

S1

S2

R1

R2

COMMENT

1350

1335

1380

1395

Make use of intra-day dips to buy the stock while retaining a stiff stop-loss at ₹1,350 levels

 

₹297 • ITC

S1

S2

R1

R2

COMMENT

294

291

300

303

Initiate fresh long positions with a fixed stop-loss only if the stock of ITC moves beyond ₹300 levels

 

₹165 • ONGC

S1

S2

R1

R2

COMMENT

162

159

168

171

Near-term view is positive for the stock of ONGC, buy in declines with a stiff stop-loss at ₹162 levels

 

₹1185 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1170

1155

1200

1215

The stock jumped 3 per cent with good volume last session. Near-term stance is bullish, buy in dips

 

₹293 • SBI

S1

S2

R1

R2

COMMENT

287

282

298

303

Initiate fresh short positions with a fixed stop-loss if the stock fails to move beyond ₹298 levels

 

₹1941 • TCS

S1

S2

R1

R2

COMMENT

1920

1900

1960

1980

Consider initiating fresh short positions with a stiff stop-loss only if the stock of TCS falls below ₹1,920 levels

 

11371 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11320

11270

11410

11450

Initiate fresh long positions with a tight stop-loss if the contract rebounds up from 11,320 levels

 

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

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