Day Trading Guide for August 29

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

₹2096 • HDFC Bank

S1

S2

R1

R2

COMMENT

2082

2067

2108

2120

Fresh long positions are recommended with a stiff stop-loss if the stock moves beyond ₹2,108 levels

 

₹1424 • Infosys

S1

S2

R1

R2

COMMENT

1412

1400

1438

1450

Initiate fresh long positions with a fixed stop-loss if the stock of Infosys rebounds up from ₹1,412 levels

 

₹311 • ITC

S1

S2

R1

R2

COMMENT

309

306

314

317

Make use of intra-day rallies to initiate fresh short positions while maintaining a stiff stop-loss at ₹314 levels

 

₹174 • ONGC

S1

S2

R1

R2

COMMENT

172

169

177

180

Initiate fresh short positions with a tight stop-loss if the stock of ONGC fails to rally above ₹177 levels

 

₹1318 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1304

1290

1330

1345

Consider initiating fresh short positions with a fixed stop-loss only if the stock of RIL declines below ₹1,304 levels

 

₹304 • SBI

S1

S2

R1

R2

COMMENT

299

294

309

316

Fresh long positions can be initiated with a fixed stop-loss only if the stock of SBI advances above ₹309 levels

 

₹2065 • TCS

S1

S2

R1

R2

COMMENT

2045

2025

2080

2100

Initiate fresh long positions with a stiff stop-loss if the stock climbs above ₹2080 levels

 

11752 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11700

11650

11800

11840

Fresh long positions can be initiated with a fixed stop-loss if the contract reverses higher from 11,700 levels

 

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

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