Day Trading Guide For August 10

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

₹2118 • HDFC Bank

S1

S2

R1

R2

COMMENT

2105

2090

2135

2150

Fresh short positions can be initiated with a stiff stop-loss if the stock drops below ₹2,105 levels

 

₹1380 • Infosys

S1

S2

R1

R2

COMMENT

1370

1366

1390

1400

Initiate fresh long positions with a tight stop-loss if the stock of Infosys rebounds up from ₹1,370 levels

 

₹301 • ITC

S1

S2

R1

R2

COMMENT

289

296

304

307

Consider initiating fresh long positions with a tight stop-loss only if the stock rallies above ₹304 levels

 

₹168 • ONGC

S1

S2

R1

R2

COMMENT

166

163

171

174

Fresh short positions are recommended with a fixed stop-loss only if the stock of declines below ₹166 levels

 

₹1217 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1204

1190

1231

1245

Outlook remains positive as long as the stock trades above ₹1,204 levels. Buy with a fixed stop-loss

 

₹316 • SBI

S1

S2

R1

R2

COMMENT

311

306

320

325

Make use of intra-day dips to buy the stock of SBI while maintaining a stiff stop-loss at ₹311 levels

 

₹1974 • TCS

S1

S2

R1

R2

COMMENT

1950

1930

1990

2010

Fresh short positions can be initiated with a stiff stop-loss if the stock drops below ₹1,950 levels

 

11487 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11440

11400

11530

11570

Initiate fresh long positions with a fixed stop-loss if the contract reverses higher from 11,440 levels

 

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

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