Day trading guide

Day Trading Guide for August 28, 2020

| Updated on August 27, 2020

₹1112 • HDFC Bank

S1

S2

R1

R2

COMMENT

1100

1085

1125

1145

The stock is moving in a sideways trend; go long above ₹1,125 with a stop-loss at ₹1,100

₹947 • Infosys

S1

S2

R1

R2

COMMENT

940

918

960

972

Consider initiating fresh long positions with stop-loss at ₹930 as the stock will be bullish above ₹940

₹194 • ITC

S1

S2

R1

R2

COMMENT

192

189

200

203

Rallies do not seem to sustain and so, sell the stock on intraday rallies with a tight stop-loss

₹80 • ONGC

S1

S2

R1

R2

COMMENT

78

76

82

83.5

Price action hints at possible depreciation; go short with tight stop-loss on a decisive break below ₹80

₹2110 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2100

2070

2175

2200

Initiate fresh long trades in the stock if price rebounds from the current levels. Stop-loss can be ₹2,070

₹215 • SBI

S1

S2

R1

R2

COMMENT

212

207

222

228

Since the uptrend looks sustainable, go long in the stock in intraday declines with stop-loss at ₹210

₹2248 • TCS

S1

S2

R1

R2

COMMENT

2230

2200

2285

2320

Fresh longs positions can be created with stop-loss at ₹2,200 if the stock rebounds from ₹2,230

11592 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11560

11530

11620

11650

As the contract faces a resistance, initiate fresh buys with stop-loss at 11,560 if it crosses over 11,620

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

Published on August 28, 2020

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