Day Trading Guide For August 5, 2022

BL Research Bureau | Updated on: Aug 04, 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.

₹1432 • HDFC Bank

S1

S2

R1

R2

COMMENT

1420

1405

1450

1470

Stuck in the range of 1420 - 1450. Refrain from trading until the stock moves out of this range.

₹1600 • Infosys

S1

S2

R1

R2

COMMENT

1575

1550

1625

1650

Likely to extend the rally. Hence, consider going long with stop-loss at 1575.

₹310 • ITC

S1

S2

R1

R2

COMMENT

307

304

313

317

Might stay flat for some time. Therefore, it is better to stay away from trading this stock.

₹136 • ONGC

S1

S2

R1

R2

COMMENT

134

129

138

140

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

₹2572 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2540

2500

2630

2700

Go long on the stock if it rallies past 2615. Place stop-loss at 2585.

₹533 • SBI

S1

S2

R1

R2

COMMENT

530

520

536

545

Trend is up but testing a critical hurdle. One can wait for the break out before taking positions.

₹3355 • TCS

S1

S2

R1

R2

COMMENT

3300

3270

3370

3400

Looks set to appreciate from the current level. Buy the stock with stop-loss at 3300.

17370 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

17250

17130

17500

17600

Falls back in to the range 17250 - 17500. Stay away until the contract remains within the range.

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

Published on August 05, 2022
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