Day trading guide for July 05: Intraday supports, resistances for Nifty50 stocks

BL Research Bureau | Updated on: Jul 04, 2022

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS and SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.

₹1355 • HDFC Bank

S1

S2

R1

R2

COMMENT

1340

1325

1360

1380

Resistance ahead. Go long only if the stock breaks above 1360. Keep the stop-loss at 1345

₹1488 • Infosys

S1

S2

R1

R2

COMMENT

1475

1450

1495

1505

Initiate fresh short positions if the stock turns down from 1495 with a stop-loss at 1515

₹292 • ITC

S1

S2

R1

R2

COMMENT

286

280

295

300

Rally looks stretched. Go short with a stop-loss at 302 if the stock turns down from 295.

₹126 • ONGC

S1

S2

R1

R2

COMMENT

124

120

130

136

There is room to fall further. Go short now and at 128. Stop-loss can be placed at 132.

₹2414 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2360

2310

2475

2535

Can go either way from here. Avoid trading this stock until a clear trend emerges

₹473 • SBI

S1

S2

R1

R2

COMMENT

469

460

477

481

Initiate fresh shorts with a stop-loss at 479 if the stock reverses lower from 477.

₹3235 • TCS

S1

S2

R1

R2

COMMENT

3200

3170

3250

3300

Near-term outlook is negative. Initiate fresh short positions with a stop-loss at 3255.

15831 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

15760

15650

15920

16000

There is room to rise in the near-term. Go long now and at 15780 with a stop-loss at 15720

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

Published on July 05, 2022
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