Day Trading Guide For August 11

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

9854 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9800

9750

9900

9950

Consider initiating fresh short positions with a fixed stop-loss if the contract reverses down from 9900 levels



₹1759 • HDFC Bank

S1

S2

R1

R2

COMMENT

1750

1735

1775

1790

Fresh short positions are recommended with a tight stop-loss only if the stock declines below ₹1750 levels



₹982 • Infosys

S1

S2

R1

R2

COMMENT

970

960

990

1000

Make use of intra-day dips to initiate fresh long positions while maintaining a stiff stop-loss at ₹970 levels



₹273 • ITC

S1

S2

R1

R2

COMMENT

270

267

275

280

Initiate fresh long positions with a tight stop-loss only if the stock advances above ₹275 levels



₹163 • ONGC

S1

S2

R1

R2

COMMENT

161

158

166

169

Fresh short positions can be initiated with a fixed stop-loss if the stock fails to move beyond ₹166 levels



₹1584 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1570

1555

1600

1620

Consider initiating fresh short positions with a tight stop-loss if the stock reverses down from ₹1600 levels



₹296 • SBI

S1

S2

R1

R2

COMMENT

293

290

300

303

Near-term outlook is bearish for the stock. Sell the stock in rallies with a stiff stop-loss placed at ₹300 levels



₹2511 • TCS

S1

S2

R1

R2

COMMENT

2490

2470

2530

2550

Initiate fresh long positions with a fixed stop-loss if the stock of TCS rebounds up from ₹2490 levels



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

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