Day Trading Guide for September 06, 2022

BL Research Bureau | Updated on: Sep 05, 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.

₹1495 • HDFC Bank

S1

S2

R1

R2

COMMENT

1480

1460

1500

1540

Initiate fresh long positions with a stop-loss at 1490 only if the stock breaks above 1500.

₹1461 • Infosys

S1

S2

R1

R2

COMMENT

1445

1420

1470

1490

Stuck in a range. Go short only if the stock breaks below 1445 with a stop-loss at 1455

₹329 • ITC

S1

S2

R1

R2

COMMENT

326

321

335

342

Uptrend gains momentum. Go long now and on dips at 327. Keep the stop-loss at 324

₹133 • ONGC

S1

S2

R1

R2

COMMENT

132

129

136

139

Poised above a key support. Go short on a break below 132. Stop-loss can be kept at 134

₹2570 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2530

2500

2585

2610

Fresh fall is possible. Initiate fresh short positions now with a tight stop-loss at 2595

₹539 • SBI

S1

S2

R1

R2

COMMENT

534

530

543

550

Initiate fresh long positions only if the stock breaks above 543. Keep the stop-loss at 541

₹3133 • TCS

S1

S2

R1

R2

COMMENT

3110

3080

3150

3200

Can see a fresh fall from here. Initiate fresh short positions with a tight stop-loss at 3160

17704 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

17640

17500

17800

17900

Wait for a rise. Go short with a stop-loss at 17860 only if the contract turns down from 17800.

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

Published on September 06, 2022
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