Day trading guide

Day Trading Guide for August 30, 2019

| Updated on August 30, 2019 Published on August 30, 2019

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

₹2227 • HDFC Bank

S1

S2

R1

R2

COMMENT

2215

2200

2242

2255

Initiate fresh long positions with a stiff stop-loss only if the stock moves beyond ₹2,242 levels

 

₹806 • Infosys

S1

S2

R1

R2

COMMENT

800

794

813

820

Consider initiating fresh long positions with a tight stop-loss if the stock reverses higher from ₹800 levels

 

₹241 • ITC

S1

S2

R1

R2

COMMENT

239

236

244

247

Fresh short positions are recommended with a stiff stop-loss only if the stock of ITC declines below ₹239 levels

 

₹123 • ONGC

S1

S2

R1

R2

COMMENT

120

117

126

129

Initiate fresh long positions with a fixed stop-loss if the stock of ONGC rebounds up from ₹120 levels

 

₹1242 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1227

1213

1257

1275

Consider initiating fresh short positions with a fixed stop-loss only if the stock falls below ₹1,227 levels

 

₹274 • SBI

S1

S2

R1

R2

COMMENT

270

265

279

285

As long as the stock trades below ₹279, the near-term stance is bearish. Sell on rallies with a fixed stop-loss

 

₹2233 • TCS

S1

S2

R1

R2

COMMENT

2210

2190

2250

2270

Initiate fresh long positions with a stiff stop-loss if the stock of TCS advances above ₹2,250 levels

 

10944 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10900

10850

11000

11050

A strong rally above 11,000 levels will be a positive cue for initiating fresh long positions with a fixed stop-loss

 

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

Published on August 30, 2019
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