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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