Day Trading Guide For July 24

 

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

₹2157 • HDFC Bank

S1

S2

R1

R2

COMMENT

2140

2120

2172

2185

Initiate fresh short positions with a tight stop-loss only if the stock falls below ₹2,140 levels

 

₹1355 • Infosys

S1

S2

R1

R2

COMMENT

1343

1330

1368

1380

Make use of intra-day declines to buy the stock while maintaining a fixed stop-loss at ₹1343 levels

 

₹283 • ITC

S1

S2

R1

R2

COMMENT

280

277

286

289

Near-term outlook is bullish for the stock of ITC. Buy the stock in dips with a stiff stop-loss at ₹280 levels

 

₹156 • ONGC

S1

S2

R1

R2

COMMENT

154

151

159

162

Fresh long positions can be initiated with a tight stop-loss only if the stock rallies above ₹159 levels

 

₹1120 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1105

1090

1130

1145

Initiate fresh long positions with a fixed stop-loss if the stock of RIL reverses higher from ₹1,105 levels

 

₹266 • SBI

S1

S2

R1

R2

COMMENT

262

257

270

275

Consider initiating fresh long positions with a tight stop-loss if the stock of SBI rebounds up from ₹262 levels

 

₹2005 • TCS

S1

S2

R1

R2

COMMENT

1982

1960

2020

2040

Fresh long positions can be initiated with a stiff stop-loss only if the stock moves beyond ₹2,020 levels

 

11099 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11050

11000

11150

11200

Initiate fresh long positions with a tight stop-loss if the contract reverses higher from 11,050 levels

 

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

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