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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