Day Trading Guide for September 4

 

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

₹2074 • HDFC Bank

S1

S2

R1

R2

COMMENT

2070

2060

2080

2100

Resistance ahead. Initiate fresh long positions with a stop-loss at ₹2065 if the stock breaks above ₹2080

 

₹1433 • Infosys

S1

S2

R1

R2

COMMENT

1420

1390

1450

1470

Initiate fresh long positions only if the stock breaks above ₹1,450. Keep the stop-loss at ₹1,435

 

₹313 • ITC

S1

S2

R1

R2

COMMENT

310

305

318

322

Wait for dips and go long if ITC reverses higher from ₹310. Stop-loss can be placed at ₹308

 

₹177 • ONGC

S1

S2

R1

R2

COMMENT

176

172

178

181

Initiate fresh short positions with a stop-loss at ₹178 if the stock breaks below ₹176

 

₹1230 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1210

1185

1240

1260

Resistance ahead. Go go short with a stop-loss at ₹1,265 if RIL reverses lower from ₹1,240

 

₹306 • SBI

S1

S2

R1

R2

COMMENT

304

300

309

312

Initiate fresh long positions with a stop-loss at ₹301 if SBI reverses higher from ₹304.

 

₹2055 • TCS

S1

S2

R1

R2

COMMENT

2040

2010

2075

2090

Wait for rallies and go short if TCS reverses lower from ₹2,075. Keep the stop-loss at ₹2,095

 

11641 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11620

11600

11670

11700

Go short if the index futures reverses lower from 11,670. Stop-loss can be placed at 11,685

 

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

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