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:

9904 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9855

9805

9950

10000

Fresh long positions can be initiated with a tight stop-loss if the contract reverses higher from 9855 levels



₹1780 • HDFC Bank

S1

S2

R1

R2

COMMENT

1765

1750

1790

1800

Make use of intra-day dips to buy the stock while maintaining a stiff stop-loss at ₹1765 levels



₹976 • Infosys

S1

S2

R1

R2

COMMENT

970

960

990

1000

Consider initiating fresh long positions with a tight stop-loss only if the stock moves above ₹990 levels



₹279 • ITC

S1

S2

R1

R2

COMMENT

276

273

282

285

After taking support at ₹271, the stock gained 3 per cent witnessing buying interest last session. Buy in dips



₹161 • ONGC

S1

S2

R1

R2

COMMENT

158

155

164

167

Fresh long positions are recommended with a tight stop-loss if the stock of ONGC moves beyond ₹164 levels



₹1566 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1550

1530

1580

1595

Consider initiating fresh short positions with a fixed stop-loss if the stock fails to advance above ₹1580 levels



₹282 • SBI

S1

S2

R1

R2

COMMENT

279

276

286

289

Initiate fresh long positions with a tight stop-loss if the stock of SBI rallies above ₹286 levels



₹2491 • TCS

S1

S2

R1

R2

COMMENT

2470

2450

2510

2530

Fresh long positions can be initiated with a fixed stop-loss if the stock rebounds up from ₹2470 levels



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

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