Day Trading Guide for July 17

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

₹2169 • HDFC Bank

S1

S2

R1

R2

COMMENT

2155

2140

2180

2195

Fresh long positions can be initiated with a fixed stop-loss only if the stock advances above ₹2180 levels

 

₹1333 • Infosys

S1

S2

R1

R2

COMMENT

1320

1305

1350

1365

Make use of intra-day declines to buy the stock of Infosys while retaining a tight stop-loss at ₹1,320

 

₹271 • ITC

S1

S2

R1

R2

COMMENT

268

265

274

277

The stock is experiencing selling pressure at higher levels. Sell in rallies with a fixed stop-loss at ₹274

 

₹153 • ONGC

S1

S2

R1

R2

COMMENT

151

148

156

160

Initiate fresh short positions with a stiff stop-loss only if the stock fails to move beyond ₹156 levels

 

₹1076 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1055

1035

1090

1105

Fresh short positions are recommended with a fixed stop-loss if the stock of RIL declines below ₹1055 levels

 

₹251 • SBI

S1

S2

R1

R2

COMMENT

247

242

256

262

Near-term stance is bearish for the stock of SBI. Sell in rallies while retaining a stiff stop-loss at ₹256

 

₹1988 • TCS

S1

S2

R1

R2

COMMENT

1970

1950

2010

2030

Fresh long positions can be initiated with a fixed stop-loss if the stock rebounds up from ₹1970 levels

 

10944 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10900

10850

10990

11040

Consider initiating fresh short positions with a tight stop-loss only if the contract declines below 10,900 levels

 

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

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