Day Trading Guide for August 31

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

₹2067 • HDFC Bank

S1

S2

R1

R2

COMMENT

2055

2040

2080

2095

Make use of intra-day rallies to sell the stock while maintaining a fixed stop-loss at ₹2080 levels

 

₹1417 • Infosys

S1

S2

R1

R2

COMMENT

1405

1390

1427

1438

Initiate fresh long positions with a fixed stop-loss if the stock of Infosys rebounds up from ₹1,405 levels

 

₹319 • ITC

S1

S2

R1

R2

COMMENT

316

313

321

324

Consider initiating fresh long positions with a tight stop-loss only if the stock of ITC moves beyond ₹321 levels

 

₹177 • ONGC

S1

S2

R1

R2

COMMENT

174

171

180

183

Fresh short positions can be initiated with a stiff stop-loss if the stock of ONGC falls below ₹174 levels

 

₹1274 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1264

1250

1290

1305

Initiate fresh long positions with a fixed stop-loss only if the stock of RIL advances above ₹1290 levels

 

₹308 • SBI

S1

S2

R1

R2

COMMENT

304

299

313

318

Fresh long positions can be initiated with a stiff stop-loss the stock of SBI reverses higher from ₹304 level

 

₹2079 • TCS

S1

S2

R1

R2

COMMENT

2060

2040

2100

2120

The stock of TCS is hovering in the overbought levels. Desist trading in the stock for the session

 

11676 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11625

11575

11720

11760

Consider initiating fresh long positions with a fixed stop-loss only if the contract rallies above 11,720 levels

 

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

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