Day trading guide

Day Trading Guide for August 25, 2020

| Updated on August 24, 2020

₹1117 • HDFC Bank

S1

S2

R1

R2

COMMENT

1100

1085

1130

1145

As the stock has breached the resistance of ₹1,100, go long in dips with stop-loss at ₹1,085

₹947 • Infosys

S1

S2

R1

R2

COMMENT

940

918

960

970

Since the stock of Infosys rebounded from a support, initiate fresh longs with fixed stop-loss at ₹930

₹196 • ITC

S1

S2

R1

R2

COMMENT

195

192

200

203

Initiate fresh short positions with stop-loss at ₹200 if the stock of ITC falls below ₹195 levels

₹81 • ONGC

S1

S2

R1

R2

COMMENT

80

77

82

83.5

The stock looks bearish biased; but since ₹80 is a support, go short below ₹80 with stop-loss at ₹82

₹2095 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2070

2045

2135

2175

The stock bounced off a considerable support and so fresh long positions can be initiated with a tight stop-loss

₹201 • SBI

S1

S2

R1

R2

COMMENT

199

195

204

207

Initiate short position with tight stop-loss either below ₹199 or if it reverses lower from the resistance ₹204

₹2248 • TCS

S1

S2

R1

R2

COMMENT

2230

2200

2280

2320

Go long in the stock of TCS with stop-loss at ₹2,200 as the support looks intact and might push up the price

11478 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11455

11400

11530

11580

Fresh long positions can be initiated with a stiff stop-loss only if the contract advances above 11,500 levels

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

Published on August 25, 2020

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