Day Trading Guide for August 16, 2019

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹2229 • HDFC Bank

S1

S2

R1

R2

COMMENT

2214

2200

2245

2260

Initiate fresh short positions with a stiff stop-loss only if the stock reverses down from ₹2,245 levels

 

₹774 • Infosys

S1

S2

R1

R2

COMMENT

768

760

780

788

Consider initiating fresh short positions with a fixed stop-loss if the stock falls below ₹768 levels

 

₹248 • ITC

S1

S2

R1

R2

COMMENT

245

242

252

255

Fresh long positions can be initiated with a stiff stop-loss if the stock of ITC rebounds up from ₹245 levels

 

₹126 • ONGC

S1

S2

R1

R2

COMMENT

124

121

130

133

The stock is trading in the oversold territory. Go long with a fixed stop-loss on a strong rally above ₹130 levels

 

₹1288 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1275

1250

1304

1320

Make use of intra-day declines to buy the stock of RIL while retaining a tight stop-loss at ₹1,275 levels

 

₹289 • SBI

S1

S2

R1

R2

COMMENT

283

277

295

302

Fresh short positions can be initiated with a tight stop-loss if the stock declines below ₹283 levels

 

₹2204 • TCS

S1

S2

R1

R2

COMMENT

2182

2160

2225

2245

Consider initiating fresh short positions with a stiff stop-loss if the stock fails to move beyond ₹2,225 levels

 

11028 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10975

10925

11080

11130

Initiate fresh long positions with a tight stop-loss only if the contract rallies above 11,080 levels

 

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

Published on August 16, 2019

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