Day trading guide

Day Trading Guide For August 4

| Updated on January 09, 2018 Published on August 03, 2017

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

10043 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10000

950

10090

10130

Fresh short positions can be initiated with a tight stop-loss if the contract reverses down from 10090 levels



₹1776 • HDFC Bank

S1

S2

R1

R2

COMMENT

1760

1745

1790

1805

Make use of intra-day rallies to initiate fresh short positions while maintaining a fixed stop-loss at ₹1790 levels



₹983 • Infosys

S1

S2

R1

R2

COMMENT

970

960

990

1000

Initiate fresh short positions with a stiff stop-loss if the stock reverses down from ₹990 levels



₹281 • ITC

S1

S2

R1

R2

COMMENT

279

276

284

287

Continue to sell the stock in rallies with a tight stop-loss as the near-term outlook is bearish for the stock.



₹165 • ONGC

S1

S2

R1

R2

COMMENT

163

160

168

171

Initiate fresh long positions with a tight stop-loss if the stock of ONGC rebounds up from ₹163 levels



₹1651 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1635

1620

1665

1675

Consider initiating fresh short positions with a tight stop-loss only if the stock slips below ₹1635 levels



₹300 • SBI

S1

S2

R1

R2

COMMENT

296

293

303

306

The stock tests a key support at current levels. Go short if it declines below ₹296 with a fixed stop-loss



₹2489 • TCS

S1

S2

R1

R2

COMMENT

2470

2450

2510

2530

Fresh short positions are recommended with a stiff stop-loss only if the stock falls below ₹2470 levels



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

Published on August 03, 2017
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