Day Trading Guide For August 2, 2022

BL Research Bureau | Updated on: Aug 01, 2022

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.

₹1445 • HDFC Bank

S1	S2	R1	R2	COMMENT
1425	1400	1450	1500	Resistance ahead. Go long only if the stock breaks above 1450. Stop-loss can be kept at 1435

₹1551 • Infosys

S1	S2	R1	R2	COMMENT
1535	1475	1600	1650	Outlook is positive. Go long now and accumulate on dips at 1540 with a stop-loss at 1520

₹308 • ITC

S1	S2	R1	R2	COMMENT
303	297	309	320	At a key resistance. So, wait for a near-term dip and go long at 305. Keep the stop-loss at 299.

₹138 • ONGC

S1	S2	R1	R2	COMMENT
134	129	141	144	Initiate fresh short positions if ONGC reverses lower from 141. Stop-loss can be kept at 143

₹2575 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2545	2485	2625	2719	Limited room on the upside. Wait for a rally and go short at 2610. Keep the stop-loss at 2635

₹534 • SBI

S1	S2	R1	R2	COMMENT
526	520	537	550	Initiate fresh long positions only if the stock breaks above 537. Stop-loss can be kept at 534

₹3299 • TCS

S1	S2	R1	R2	COMMENT
3270	3235	3323	3355	Range bound and can go either way from here. Avoid trading this stock for a few sessions

17371 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
17200	17000	17470	17735	Short-term outlook is bullish. Go long now and on dips at 17230. Keep the stop-loss at 17160

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

Published on August 02, 2022

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