Day trading guide

Day Trading Guide for August 9, 2019

| Updated on August 09, 2019 Published on August 09, 2019

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

₹2235 • HDFC Bank

S1

S2

R1

R2

COMMENT

2220

2205

2250

2266

Initiate fresh long positions with a fixed stop-loss if the stock reverses higher from ₹2,220 levels

 

₹789 • Infosys

S1

S2

R1

R2

COMMENT

783

776

795

802

Make use of intra-day dips to buy the stock while retaining a stiff stop-loss at ₹783 levels

 

₹257 • ITC

S1

S2

R1

R2

COMMENT

254

251

260

263

Fresh long positions can be initiated with a stiff stop-loss if the stock of ITC rebounds up from ₹254 levels

 

₹130 • ONGC

S1

S2

R1

R2

COMMENT

128

125

134

137

The stock tests a key support at current levels. Buy in declines while maintaining a stop-loss at ₹128 levels

 

₹1151 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1135

1120

1165

1180

Consider initiating fresh long positions with a tight stop-loss only if the stock of RIL climbs above ₹1,165 levels

 

₹294 • SBI

S1

S2

R1

R2

COMMENT

288

282

300

307

Fresh long positions are recommended with a fixed stop-loss only if the stock of SBI moves beyond ₹300 levels

 

₹2258 • TCS

S1

S2

R1

R2

COMMENT

2240

2220

2280

2300

Near-term outlook is bullish for the stock of TCS. Buy in dips with a stiff stop-loss at ₹2,240 levels

 

11063 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11010

10960

11115

11175

Initiate fresh long positions with a tight stop-loss if the contract reverses higher from 11,010 levels

 

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

Published on August 09, 2019
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