Day Trading Guide For August 3, 2022

BL Research Bureau | Updated on: Aug 02, 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, and 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.

₹1428 • HDFC Bank

S1

S2

R1

R2

COMMENT

1420

1405

1450

1470

Just above a support. Initiate fresh shorts on a break below 1420. Keep the stop-loss at 1435

₹1543 • Infosys

S1

S2

R1

R2

COMMENT

1530

1510

1560

1600

Consolidates within the upmove. Go long with a stop-loss at 1540 only on a break above 1560.

₹310 • ITC

S1

S2

R1

R2

COMMENT

307

304

313

317

Near-term corrective dip is possible. Go long on dips at 307. Stop-loss can be placed at 305

₹137 • ONGC

S1

S2

R1

R2

COMMENT

134

129

138

140

Immediate outlook is unclear. Avoid trading this stock until a clear trade signal emerges

₹2583 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2560

2540

2600

2630

Bias on the chart is slightly negative. Go short now and at 2590. Keep the stop-loss at 2610.

₹542 • SBI

S1

S2

R1

R2

COMMENT

536

530

545

550

A dip is possible before the upmove resumes. Go long on dips at 537 with a stop-loss at 534

₹3290 • TCS

S1

S2

R1

R2

COMMENT

3270

3230

3320

3370

Range bound between 3270 and 3320. Wait for a range breakout and take trades accordingly

17315 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

17240

17110

17400

17520

Initiate fresh long positions with a stop-loss at 17360 only if the contract breaks above 17400

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

Published on August 03, 2022
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