Day Trading Guide For August 30

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

₹2078 • HDFC Bank

S1

S2

R1

R2

COMMENT

2067

2055

2095

2108

Initiate fresh short positions with a stiff stop-loss if the stock reverses down from ₹2,095 levels

 

₹1410 • Infosys

S1

S2

R1

R2

COMMENT

1400

1385

1424

1438

Fresh short positions are recommended with a tight stop-loss if the stock declines below ₹1,400 levels

 

₹312 • ITC

S1

S2

R1

R2

COMMENT

309

306

315

318

Initiate fresh short positions with a tight stop-loss only if the stock of ITC fails to move beyond ₹315 levels

 

₹177 • ONGC

S1

S2

R1

R2

COMMENT

174

171

180

183

Make use of intra-day dips to buy the stock of ONGC while maintaining a tight stop-loss at ₹174 levels

 

₹1294 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1280

1265

1305

1320

Fresh short positions can be initiated with a fixed stop-loss if the stock reverses down from ₹1,305 levels

 

₹309 • SBI

S1

S2

R1

R2

COMMENT

304

299

315

320

Consider initiating fresh long positions with a stiff stop-loss if the stock rebounds up from ₹304 levels

 

₹2065 • TCS

S1

S2

R1

R2

COMMENT

2045

2025

2080

2100

The stock experiences selling pressure at higher levels. Make use of intra-day rallies to sell it with a fixed stop-loss

 

11707 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11650

11600

11752

11800

Fresh short positions can be initiated with a tight stop-loss only if the contract declines below 11,650 levels

 

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

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