Day Trading Guide for July 29, 2022

BL Research Bureau | Updated on: Jul 28, 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.

₹1417 • HDFC Bank

S1

S2

R1

R2

COMMENT

1400

1380

1425

1445

Trend is up. But wait for dips and initiate fresh longs at 1410. Stop-loss can be placed at 1390.

₹1517 • Infosys

S1

S2

R1

R2

COMMENT

1490

1440

1540

1600

Resistance ahead. Go long only if the stock breaks above 1540. Keep the stop-loss at 1525

₹303 • ITC

S1

S2

R1

R2

COMMENT

302

300

305

307

Uptrend is still intact. Go long now and accumulate at 302. Stop-loss can be kept at 299

₹130 • ONGC

S1

S2

R1

R2

COMMENT

128

125

134

136

The expected fall is not happening. Avoid trading this stock until a clarity is obtained

₹2457 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2400

2370

2480

2520

Short-term resistance ahead. Go short with a stop-loss at 2495 if RIL turns down from 2480

₹532 • SBI

S1

S2

R1

R2

COMMENT

530

521

535

537

May see a corrective fall. Go short on a break below 530. Stop-loss can be kept at 532

₹3260 • TCS

S1

S2

R1

R2

COMMENT

3240

3220

3300

3335

Outlook is positive. Go long now and accumulate on dips at 3235 with a stop-loss at 3225

16954 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

16880

16770

17050

17280

Outlook is bullish. Go long now and on dips at 16910. Keep the stop-loss at 16860

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

Published on July 29, 2022
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