Day Trading Guide for July 21, 2022

BL Research Bureau | Updated on: Jul 20, 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.

₹1365 • HDFC Bank

S1

S2

R1

R2

COMMENT

1356

1340

1378

1400

Trading near the middle of the range of 1300 - 1400. Stay away from trading.

₹1515 • Infosys

S1

S2

R1

R2

COMMENT

1465

1440

1520

1550

Near the resistance at 1520. Go long if this is breached and place stop-loss at 1495.

₹298 • ITC

S1

S2

R1

R2

COMMENT

295

292

300

305

Closed above resistance at 297 and is likely to go up. So, buy with stop-loss at 294.

₹133 • ONGC

S1

S2

R1

R2

COMMENT

128

125

134

140

Rejected by the barrier at 134. Might decline from here. Short with stop-loss at 140.

₹2503 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2500

2435

2550

2600

Buy the stock if it rallies past 2532. Stop-loss can be placed at 2500.

₹509 • SBI

S1

S2

R1

R2

COMMENT

500

489

520

530

Upmove gains momentum. Go long now and on dips at 500. Stop-loss can be kept at 492

₹3165 • TCS

S1

S2

R1

R2

COMMENT

3075

3030

3230

3300

Short the stock if it reverses lower from the resistance at 3230. Stop-loss can be at 3300.

16495 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

16400

16300

16600

16700

Go long if the contract bounces off the current level. Place stop-loss at 16400.

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

Published on July 21, 2022
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