Day Trading Guide For July 22, 2022

BL Research Bureau | Updated on: Jul 21, 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.

₹1361 • HDFC Bank

S1

S2

R1

R2

COMMENT

1355

1340

1375

1390

Initiate fresh short positions only on a break below 1355. Stop-loss can be kept at 1365

₹1533 • Infosys

S1

S2

R1

R2

COMMENT

1520

1490

1565

1600

Outlook is positive. Go long now and accumulate on dips at 1525 with a stop-loss at 1505

₹299 • ITC

S1

S2

R1

R2

COMMENT

296

290

304

310

Uptrend is intact. Initiate fresh longs now and on dips at 297. Keep the stop-loss at 293

₹133 • ONGC

S1

S2

R1

R2

COMMENT

131

128

137

141

Has room to move up. Initiate fresh long positions at current levels with a stop-loss at 129.

₹2487 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2465

2440

2520

2560

Can see a fresh rise from here. Go long now and on dips at 2470. Keep the stop-loss at 2455

₹512 • SBI

S1

S2

R1

R2

COMMENT

506

500

513

520

Resistance ahead. Go long only if SBI breaks above 513. Stop-loss can be placed at 511

₹3178 • TCS

S1

S2

R1

R2

COMMENT

3160

3110

3220

3270

Not much room left to rise. Initiate fresh long positions with a tight stop-loss at 3145.

16616 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

16500

16400

16680

16800

Wait for a rise. Go short with a stop-loss at 16720 if the contract turns down from 16680.

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

Published on July 22, 2022
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