Day Trading Guide for July 20, 2022

BL Research Bureau | Updated on: Jul 19, 2022

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, 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.

₹1348 • HDFC Bank

S1

S2

R1

R2

COMMENT

1330

1300

1360

1385

Bias is negative. Wait for a rise and go short at 1355. Stop-loss can be placed at 1370.

₹1485 • Infosys

S1

S2

R1

R2

COMMENT

1465

1440

1495

1520

Initiate fresh longs now and accumulate on dips at 1470. Keep the stop-loss at 1455

₹294 • ITC

S1

S2

R1

R2

COMMENT

292

289

297

300

Resistance ahead. Go long with a stop-loss at 295 only if the stock breaks above 197.

₹127 • ONGC

S1

S2

R1

R2

COMMENT

123

120

129

133

Wait for a dip. Go long if the stock reverses higher from 123. Keep the stop-loss at 121

₹2433 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2400

2370

2440

2470

Can turn down now and keep the range intact. Go short with a tight stop-loss at 2355

₹498 • SBI

S1

S2

R1

R2

COMMENT

494

489

503

520

Upmove gains momentum. Go long now and on dips at 495. Stop-loss can be kept at 492

₹3074 • TCS

S1

S2

R1

R2

COMMENT

3055

3030

3080

3105

Stuck in a narrow range. Go long only on a break above 3080. Keep the stop-loss at 3065

16338 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

16260

16180

16420

16530

Near-term view is positive. Go long now and on dips at 16280 with a stop-loss at 16220

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

Published on July 20, 2022
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