Day Trading Guide for July 26, 2022

BL Research Bureau | Updated on: Jul 25, 2022

Here are the key intraday supports and resistances to watch out for Nifty Futures, RIL, ONGC, TCS, Infosys, HDFC Bank, SBI, and ITC

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks. 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.

₹1396 • HDFC Bank

S1

S2

R1

R2

COMMENT

1380

1355

1410

1420

Struggling to breach 1400 decisively. Go short now and at 1405. Stop-loss can be kept at 1417

₹1503 • Infosys

S1

S2

R1

R2

COMMENT

1480

1455

1520

1540

Near-term view is negative. Go short now and accumulate at 1515 with a stop-loss at 1530

₹301 • ITC

S1

S2

R1

R2

COMMENT

300

297

303

305

Uptrend is intact. Initiate fresh long positions now and at 300 with a stop-loss at 298

₹130 • ONGC

S1

S2

R1

R2

COMMENT

128

124

132

136

Has room to fall further from here. Go short with a stop-loss at 132 on a break below 128

₹2420 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2400

2375

2440

2470

Bias is negative to see a fresh fall. Go short now and at 2435. Keep the stop-loss at 2455

₹518 • SBI

S1

S2

R1

R2

COMMENT

510

507

520

528

Initiate fresh long positions only if SBI breaks above 520. Stop-loss can be placed at 518

₹3167 • TCS

S1

S2

R1

R2

COMMENT

3140

3100

3200

3220

Range bound. Go long only if the stock breaks below 3140. Keep the stop-loss at 3155

16620 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

16550

16490

16685

16780

Can run into a fresh sell-off. Go short now and at 16660. Stop-loss can be placed at 16720

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

Published on July 26, 2022
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