Day Trading Guide For July 31

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

₹2172 • HDFC Bank

S1

S2

R1

R2

COMMENT

2135

2095

2210

2245

Stuck in a sideways range and the immediate outlook is unclear. Avoid trading this stock

 

₹1353 • Infosys

S1

S2

R1

R2

COMMENT

1340

1320

1370

1390

Resistance ahead. Go long only if the stock breaks above ₹1,370. Keep the stop-loss at ₹1,345

 

₹301 • ITC

S1

S2

R1

R2

COMMENT

299

295

304

307

Initiate fresh short positions if ITC breaks below ₹299. Stop-loss can be placed at ₹302.

 

₹164 • ONGC

S1

S2

R1

R2

COMMENT

161

158

167

170

Outlook is bullish. Go long and also accumulate on dips. Keep the stop-loss at ₹159

 

₹1149 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1125

1100

1160

1200

Uptrend gains momentum. Go long and also accumulate on dips with a stop-loss at ₹1,120

 

₹297 • SBI

S1

S2

R1

R2

COMMENT

290

285

300

310

Initiate fresh long positions with a stop-loss at ₹290 only if SBI breaks above ₹300

 

₹1944 • TCS

S1

S2

R1

R2

COMMENT

1930

1900

1965

2000

Outlook is negative. Go short and also accumulate on rallies. Keep the stop-loss at ₹1,970

 

11340 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11290

11265

11355

11400

Uptrend is intact. Make use of dips to go long at 11,310. Stop-loss can be placed at 11,280

 

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

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