Day Trading Guide For July 4, 2019

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

₹2489 • HDFC Bank

S1

S2

R1

R2

COMMENT

2475

2460

2503

2520

Consider initiating fresh short positions with a stiff stop-loss only if the stock falls below ₹2,475 levels

 

₹731 • Infosys

S1

S2

R1

R2

COMMENT

725

718

739

745

Initiate fresh short positions with a fixed stop-loss only if the stock declines below ₹725 levels

 

₹276 • ITC

S1

S2

R1

R2

COMMENT

274

271

280

283

Make use of intra-day dips to buy the stock of ITC while maintaining a stiff stop-loss at ₹274 levels

 

₹166 • ONGC

S1

S2

R1

R2

COMMENT

163

160

169

172

The stock is choppy in a narrow sideways range. Desist trading in the stock for the session

 

₹1282 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1270

1265

1295

1310

Fresh long positions are recommended with a fixed stop-loss only if the stock advances above ₹1,295 levels

 

₹366 • SBI

S1

S2

R1

R2

COMMENT

360

353

370

375

As long as the stock of SBI trades above ₹360, the near-term stance remains positive. Buy in declines

 

₹2237 • TCS

S1

S2

R1

R2

COMMENT

2220

2200

2260

2280

Fresh short positions can be initiated with a stiff stop-loss if the stock of TCS fails to move beyond ₹2,260 levels

 

11949 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11900

11850

12000

12050

Initiate fresh long positions with a tight stop-loss if the contract rebounds up from 11,900 levels

 

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

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