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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