Day Trading Guide For August-23

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



9784 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9740

9700

9835

9880

Consider initiating fresh short positions with a tight stop-loss if the contract fails to move beyond 9835 levels



₹1750 • HDFC Bank

S1

S2

R1

R2

COMMENT

1737

1720

1765

1780

Initiate fresh short positions with a fixed stop-loss only if the stock declines below ₹1737 levels



₹877 • Infosys

S1

S2

R1

R2

COMMENT

865

855

890

900

Consider initiating fresh long positions with a stiff stop-loss if the stock rebounds up from ₹865 levels



₹283 • ITC

S1

S2

R1

R2

COMMENT

280

277

285

288

Utilise intra-day dips to initiate fresh long positions on the stock while maintaining a fixed stop-loss at ₹280 levels



₹159 • ONGC

S1

S2

R1

R2

COMMENT

157

155

162

165

Fresh long positions are recommended with a stiff stop-loss only if the stock rallies above ₹162 levels



₹1563 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1550

1530

1580

1597

Initiate fresh short positions with a tight stop-loss only if the stock slumps below ₹1550 levels



₹274 • SBI

S1

S2

R1

R2

COMMENT

272

269

278

281

Fresh long positions can be initiated with a fixed stop-loss only if the stock moves beyond ₹278 levels



₹2496 • TCS

S1

S2

R1

R2

COMMENT

2480

2460

2520

2540

Make use of intra-day declines to buy the stock while retaining a tight stop-loss at ₹2480 levels



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

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