Day Trading Guide for September 7, 2022

BL Research Bureau | Updated on: Sep 06, 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.

₹1489 • HDFC Bank

S1

S2

R1

R2

COMMENT

1475

1460

1500

1540

Bias is turning bearish on the charts. Go short now and at 1495 with a stop-loss at 1505

₹1455 • Infosys

S1

S2

R1

R2

COMMENT

1445

1420

1470

1490

Still stuck in a range. Go short only on a break below 1445. Stop-loss can be kept at 1455

₹327 • ITC

S1

S2

R1

R2

COMMENT

326

321

330

335

Upmove seems like pausing. Go long only if ITC breaks above 330. Keep the stop-loss at 327

₹132 • ONGC

S1

S2

R1

R2

COMMENT

130

128

134

136

Near-term outlook is negative. Go short now and at 133. Stop-loss can be placed at 135

₹2595 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2565

2520

2620

2660

Resistance ahead. Go short with a stop-loss at 2640 if the stock reverses lower from 2620.

₹538 • SBI

S1

S2

R1

R2

COMMENT

534

530

543

540

Initiate fresh short positions if the stock breaks below 534. Keep the stop-loss at 536

₹3129 • TCS

S1

S2

R1

R2

COMMENT

3105

3080

3150

3185

Consolidates within its downtrend. Go short on a break below 3105 with a stop-loss at 3120

17684 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

17600

17480

17800

17900

Go short only if the contract breaks below 17600. Stop-loss can be placed at 17660

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

Published on September 07, 2022
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