Day Trading Guide For August-24

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

9862 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9810

9760

9910

9950

Fresh long positions are recommended with a tight stop-loss only if the contract advances above 9910 levels



₹1773 • HDFC Bank

S1

S2

R1

R2

COMMENT

1760

1750

1785

1799

Fresh long positions can be initiated with a fixed stop-loss if the stock reverses higher from ₹1760 levels



₹894 • Infosys

S1

S2

R1

R2

COMMENT

885

875

905

915

Make use of intra-day declines to buy the stock while maintaining a stiff stop-loss at ₹885 levels



₹282 • ITC

S1

S2

R1

R2

COMMENT

280

277

285

288

Fresh long positions are recommended with a tight stop-loss only if the stock moves beyond ₹285 levels



₹159 • ONGC

S1

S2

R1

R2

COMMENT

157

155

162

165

Consider initiating fresh long positions with a fixed stop-loss if the stock of ONGC rallies above ₹162 levels



₹1581 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1565

1550

1597

1615

Strong rally beyond ₹1597 will be a positive cue for initiating fresh long positions with a tight stop-loss



₹278 • SBI

S1

S2

R1

R2

COMMENT

275

272

281

284

Initiate fresh long positions with a stiff stop-loss if the stock of SBI reverses higher from ₹275 levels



₹2493 • TCS

S1

S2

R1

R2

COMMENT

2475

2460

2520

2540

Fresh long positions can be initiated with a fixed stop-loss if the stock rebounds up from ₹2475 levels



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

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