Day Trading Guide for September 2, 2022

BL Research Bureau | Updated on: Sep 01, 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, and 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.

₹1472 • HDFC Bank

S1

S2

R1

R2

COMMENT

1455

1420

1490

1515

Hovers above a support. Go short if the stock breaks below 1455. Keep the stop-loss at 1470

₹1464 • Infosys

S1

S2

R1

R2

COMMENT

1450

1430

1485

1515

Can rise before reversing lower again. Initiate fresh long positions with a stop-loss at 1445.

₹318 • ITC

S1

S2

R1

R2

COMMENT

315

311

321

323

Trend is up. Go long now and accumulate on dips at 316. Stop-loss can be placed at 313

₹135 • ONGC

S1

S2

R1

R2

COMMENT

132

129

139

142

Wait for dips. Go long only if the stock reverses higher from 132. Keep the stop-loss at 130

₹2560 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2530

2500

2570

2620

Outlook is negative. Can fall further from here. Go short now with a stop-loss at 2585

₹533 • SBI

S1

S2

R1

R2

COMMENT

530

528

536

541

Initiate fresh short positions with a stop-loss at 538 if the stock reverses lower from 536.

₹3131 • TCS

S1

S2

R1

R2

COMMENT

3100

3080

3180

3200

Trend is down. Make use of rallies to go short at 3170. Stop-loss can be placed at 3195

17620 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

17570

17440

17650

17720

Can turn down again. Go short on a break below 17570. Keep the stop-loss at 17610

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

Published on September 02, 2022
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