Day Trading Guide For August 2

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

₹2157 • HDFC Bank

S1

S2

R1

R2

COMMENT

2145

2130

2175

2190

Initiate fresh short positions with a fixed stop-loss if the stock reverses down from ₹2,175 levels

 

₹1353 • Infosys

S1

S2

R1

R2

COMMENT

1340

1325

1365

1380

Fresh long positions can be initiated with a stiff stop-loss if the stock rallies above ₹1,365 levels

 

₹301 • ITC

S1

S2

R1

R2

COMMENT

298

295

304

307

Near-term stance is bullish for ITC. Consider buying the stock in declines with a tight stop-loss at ₹298 levels

 

₹166 • ONGC

S1

S2

R1

R2

COMMENT

163

160

169

172

Make use of intra-day dips to buy the stock of ONGC while maintaining a fixed stop-loss at ₹163 levels

 

₹1191 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1175

1160

1205

1220

The stock currently tests a key resistance at around ₹1,200. Tread with caution in the near term

 

₹295 • SBI

S1

S2

R1

R2

COMMENT

290

285

300

306

Fresh long positions are recommended with a tight stop-loss only if the stock of SBI rallies above ₹300 levels

 

₹1975 • TCS

S1

S2

R1

R2

COMMENT

1955

1940

1995

2015

Initiate fresh long positions with a stiff stop-loss if the stock rebounds up from ₹1,955 levels

 

11374 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11320

11270

11410

11450

Consider initiating fresh long positions with a tight stop-loss if the contract advances above 11,410 levels

 

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

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