Day trading guide

Day Trading Guide For July 23, 2019

| Updated on July 23, 2019 Published on July 23, 2019

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹2297 • HDFC Bank

S1

S2

R1

R2

COMMENT

2283

2270

2310

2325

Initiate fresh short positions with a stiff stop-loss if the stock fails to move beyond ₹2,310 levels

 

₹785 • Infosys

S1

S2

R1

R2

COMMENT

777

770

792

800

Consider initiating fresh long positions with a tight stop-loss if the stock rebounds up from ₹777 levels

 

₹264 • ITC

S1

S2

R1

R2

COMMENT

261

258

267

270

Near-term stance is bearish for the stock of ITC. Sell in rallies with a tight stop-loss at ₹267 levels

 

₹146 • ONGC

S1

S2

R1

R2

COMMENT

143

140

149

152

Fresh long positions are recommended with a fixed stop-loss only if the stock of ONGC rallies above ₹149 levels

 

₹1280 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1265

1249

1295

1310

Initiate fresh long positions with a stiff stop-loss if the stock of RIL reverses higher from ₹1,265 levels

 

₹350 • SBI

S1

S2

R1

R2

COMMENT

345

338

357

364

Fresh short positions can be initiated with a fixed stop-loss if the stock of SBI declines below ₹345 levels

 

₹2109 • TCS

S1

S2

R1

R2

COMMENT

2090

2070

2130

2150

Make use of intra-day dips to buy the stock of TCS while maintaining a stiff stop-loss at ₹2,090 levels

 

11360 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11310

11260

11410

11465

Fresh long positions can be initiated with a tight stop-loss if the contract advances above 11,410 levels

 

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

Published on July 23, 2019
This article is closed for comments.
Please Email the Editor