Day Trading Guide For September 7

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

₹2056 • HDFC Bank

S1

S2

R1

R2

COMMENT

2044

2032

2070

2085

Initiate fresh long positions with a fixed stop-loss if the stock rebounds up from ₹2,044 levels

 

₹727 • Infosys

S1

S2

R1

R2

COMMENT

722

715

735

748

Fresh long positions are recommended with a stiff stop-loss only if the stock advances above ₹735 levels

 

₹310 • ITC

S1

S2

R1

R2

COMMENT

307

304

313

316

Make use of intra-day up-moves to initiate fresh short positions on the stock of ITC with a stop-loss at ₹313 levels

 

₹174 • ONGC

S1

S2

R1

R2

COMMENT

172

169

177

180

The stock of ONGC experiences buying interest at lower levels. Make use of dips to buy the stock with a fixed stop-loss

 

₹1260 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1245

1230

1275

1290

Consider initiating fresh long positions with a tight stop-loss if the stock of RIL reverses higher from ₹1,245 levels

 

₹296 • SBI

S1

S2

R1

R2

COMMENT

291

284

302

308

Initiate fresh short positions with a fixed stop-loss only if the stock of SBI fails to move beyond ₹302 levels

 

₹2075 • TCS

S1

S2

R1

R2

COMMENT

2060

2040

2095

2115

Fresh short positions can be initiated with a stiff stop-loss if the stock of TCS declines below ₹2,060 levels

 

11567 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11518

11470

11610

11660

Fresh long positions can be initiated with a tight stop-loss if the contract rebounds up from 11,518 levels

 

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

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