Day Trading Guide For August 8

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

₹2132 • HDFC Bank

S1

S2

R1

R2

COMMENT

2115

2100

2145

2160

Fresh long positions are recommended with a stiff stop-loss only if the stock advances above ₹2,145 levels

 

₹1369 • Infosys

S1

S2

R1

R2

COMMENT

1355

1340

1380

1395

Initiate fresh long positions with a tight stop-loss if the stock rebounds up from ₹1,355 levels

 

₹301 • ITC

S1

S2

R1

R2

COMMENT

288

295

304

307

Consider initiating fresh short positions with a fixed stop-loss only if the stock of ITC falls below ₹288 levels

 

₹167 • ONGC

S1

S2

R1

R2

COMMENT

164

161

170

173

Initiate fresh short positions with a stiff stop-loss if the stock of ONGC fails to rally beyond ₹170 levels

 

₹1183 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1168

1155

1200

1215

Consider initiating fresh long positions with a stiff stop-loss only if the stock climbs above ₹1,200 levels

 

₹304 • SBI

S1

S2

R1

R2

COMMENT

300

295

308

313

Fresh short positions are recommended with a fixed stop-loss only of the stock of SBI declines below ₹300 levels

 

₹1968 • TCS

S1

S2

R1

R2

COMMENT

1950

1930

1990

2010

Make use of intra-day rallies to initiate fresh short positions while maintaining a stiff stop-loss at ₹1,990 levels

 

11418 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11370

11320

11460

11505

Fresh long positions are recommended with a tight stop-loss if the contract manages to rally beyond 11,460 levels

 

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

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