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:

9799 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9750

9700

9850

9900

Fresh short positions can be initiated with a tight stop-loss if the contract reverses down from 9850 levels



₹1747 • HDFC Bank

S1

S2

R1

R2

COMMENT

1737

1725

1760

1773

Initiate fresh short positions with a fixed stop-loss if the stock fails to rally beyond ₹1760 levels



₹927 • Infosys

S1

S2

R1

R2

COMMENT

920

910

940

950

Make use of intra-day rallies to initiate fresh short positions while maintaining a stiff stop-loss at ₹940 levels



₹280 • ITC

S1

S2

R1

R2

COMMENT

277

274

283

286

Consider initiating fresh long positions with a fixed stop-loss only if the stock moves above ₹283 levels



₹157 • ONGC

S1

S2

R1

R2

COMMENT

155

152

159

162

The stock has resumed its downtrend. Sell it in rallies while retaining a fixed stop-loss at ₹159 levels



₹1531 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1510

1490

1550

1570

Fresh short positions can be initiated with a tight stop-loss if the stock reverses down from ₹1550 levels



₹276 • SBI

S1

S2

R1

R2

COMMENT

273

270

279

282

Fresh short positions are recommended with a stiff stop-loss only if the stock declines below ₹273 levels



₹2474 • TCS

S1

S2

R1

R2

COMMENT

2460

2440

2494

2520

Consider initiating fresh long positions with a stiff stop-loss only if the stock advances above ₹2494 levels



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

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