Day Trading Guide For August 16

 

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

₹2089 • HDFC Bank

S1

S2

R1

R2

COMMENT

2077

2065

2102

2118

Fresh short positions can be initiated with a stiff stop-loss if the stock falls below ₹2,077 levels

 

₹1408 • Infosys

S1

S2

R1

R2

COMMENT

1395

1380

1412

1425

Initiate fresh long positions with a tight stop-loss only if the stock rallies beyond ₹1,412 levels

 

₹307 • ITC

S1

S2

R1

R2

COMMENT

304

301

310

313

Consider initiating fresh long positions with a tight stop-loss only if the stock of ITC advances above ₹310 levels

 

₹166 • ONGC

S1

S2

R1

R2

COMMENT

163

160

168

171

Fresh short positions are recommended with a fixed stop-loss if the stock of ONGC falls below ₹163 levels

 

₹1210 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1195

1180

1222

1235

Initiate fresh long positions with a stiff stop-loss if the stock of RIL rebounds up from ₹1,195 levels

 

₹294 • SBI

S1

S2

R1

R2

COMMENT

290

285

300

306

Make use of intra-day rallies to initiate fresh short positions with a fixed stop-loss at ₹300 levels

 

₹2001 • TCS

S1

S2

R1

R2

COMMENT

1980

1960

2020

2040

As long as the stock trades above ₹1,980 levels, near-term view stays positive. Buy in dips with a fixed stop-loss

 

11463 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11415

11370

11500

11550

Consider initiating fresh long positions with a fixed stop-loss if the contact climbs above 11,500 levels

 

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

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