Day Trading Guide For August 28

 

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

₹2079 • HDFC Bank

S1

S2

R1

R2

COMMENT

2067

2055

2094

2108

Initiate fresh short positions with a fixed stop-loss if the stock fails to move beyond ₹2,094 levels

 

₹1414 • Infosys

S1

S2

R1

R2

COMMENT

1400

1386

1425

1437

Make use of intra-day dips to buy the stock of Infosys while maintaining a stiff stop-loss at ₹1,400 levels

 

₹313 • ITC

S1

S2

R1

R2

COMMENT

310

306

316

319

Consider initiating fresh long positions with a tight stop-loss if the stock of ITC moves beyond ₹316 levels

 

₹176 • ONGC

S1

S2

R1

R2

COMMENT

173

170

179

183

As long as the stock trades above ₹173 the near-term outlook is positive for the stock of ONGC. Buy in declines

 

₹1291 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1278

1265

1300

1315

Fresh long positions can be initiated with a tight stop-loss if the stock rebounds up from ₹1,278 levels

 

₹308 • SBI

S1

S2

R1

R2

COMMENT

303

298

313

319

Initiate fresh long positions with a tight stop-loss if the stock of SBI rallies above ₹313 levels

 

₹2051 • TCS

S1

S2

R1

R2

COMMENT

2030

2010

2070

2090

Fresh long positions can be initiated with a fixed stop-loss if the stock reverses higher from ₹2,030 levels

 

11705 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11650

11600

11750

11800

Consider initiating fresh long positions with a tight stop-loss if the contract rebounds up from 11,650 levels

 

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

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