Day Trading Guide for August 17

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

₹2075 • HDFC Bank

S1

S2

R1

R2

COMMENT

2065

2050

2089

2102

Make use of intra-day rallies to initiate fresh short positions while maintaining a stiff stop-loss at ₹2089 levels

 

₹1425 • Infosys

S1

S2

R1

R2

COMMENT

1412

1400

1435

1450

Fresh long positions can be initiated with a fixed stop-loss if the stock reverses higher from ₹1412 levels

 

₹306 • ITC

S1

S2

R1

R2

COMMENT

304

301

310

313

Initiate fresh short positions with a tight stop-loss only if the stock of ITC declines below ₹304 levels

 

₹164 • ONGC

S1

S2

R1

R2

COMMENT

162

159

167

170

The stock experiences selling pressure at higher levels. Sell in rallies with a fixed stop-loss at ₹167 levels

 

₹1200 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1190

1175

1213

1225

Fresh short positions are recommended with a tight stop-loss only if the stock falls below ₹1190 levels

 

₹292 • SBI

S1

S2

R1

R2

COMMENT

288

283

298

303

Near-term stance is negatively biased for the stock of SBI. Make use of rallies to go short with a fixed stop-loss

 

₹2008 • TCS

S1

S2

R1

R2

COMMENT

1990

1970

2030

2050

Initiate fresh long positions with a stiff stop-loss if the stock of TCS advances above ₹2030 levels

 

11410 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11360

11310

11460

11500

Fresh long positions can be initiated with a tight stop-loss if the contract moves beyond 11460 levels

 

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

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