Day trading guide

Day Trading Guide for August 23, 2019

| Updated on August 23, 2019 Published on August 23, 2019

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

₹2173 • HDFC Bank

S1

S2

R1

R2

COMMENT

2160

2145

2185

2200

Fresh short positions can be initiated with a stiff stop-loss if the stock declines below ₹2,160 levels

 

₹795 • Infosys

S1

S2

R1

R2

COMMENT

790

785

800

807

Make use of intra-day dips to buy the stock while retaining a tight stop-loss at ₹790 levels

 

₹240 • ITC

S1

S2

R1

R2

COMMENT

238

235

243

246

Fresh long positions are recommended with a tight stop-loss only if the stock rallies above ₹243 levels

 

₹116 • ONGC

S1

S2

R1

R2

COMMENT

114

111

120

123

Consider initiating fresh long positions with a stiff stop-loss if the stock ONGC moves beyond ₹120 levels

 

₹1246 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1230

1215

1260

1275

Fresh long positions can be initiated with a fixed stop-loss if the stock rebounds up from ₹1,230 levels

 

₹268 • SBI

S1

S2

R1

R2

COMMENT

263

258

275

281

As long as the stock trades below ₹275, the near-term outlook remains bearish. Go short with a fixed stop-loss

 

₹2214 • TCS

S1

S2

R1

R2

COMMENT

2195

2175

2235

2255

Initiate fresh long positions with a tight stop-loss if the stock of TCS reverses higher from ₹2,195 levels

 

10732 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10685

10635

10785

10835

Fresh short positions can be initiated with a fixed stop-loss if the contract declines below 10,685 levels

 

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

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Published on August 23, 2019
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