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Day Trading Guide for September 16, 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.

₹1521 • HDFC Bank

S1

S2

R1

R2

COMMENT

1510

1500

1535

1550

Wait for dips and go long only if the stock bounces from 1510. Keep the stop-loss at 1495

₹1432 • Infosys

S1

S2

R1

R2

COMMENT

1420

1400

1470

1500

Initiate fresh short positions with a stop-loss at 1430 only if Infosys declines below 1420.

₹334 • ITC

S1

S2

R1

R2

COMMENT

333

330

337

339

Hovers above a support. Go short if the stock breaks below 333. Keep the stop-loss at 335

₹133 • ONGC

S1

S2

R1

R2

COMMENT

131

129

134

136

Poised above a key support. Go short on a break below 131. Stop-loss can be placed at 133

₹2562 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2520

2480

2580

2610

Near-term outlook is negative. Go short now and at 2575. Stop-loss can be kept at 2590

₹572 • SBI

S1

S2

R1

R2

COMMENT

568

566

577

580

Wait for dips and go long at 569 and also accumulate at 567. Keep the stop-loss at 564

₹3104 • TCS

S1

S2

R1

R2

COMMENT

3085

3025

3140

3190

Key support ahead. Go short with a stop-loss at 3105 only if TCS breaks below 3085.

17889 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

17785

17500

17980

18120

Can dip from here. Go long with a stop-loss at 17720 if the contract reverses higher from 17785.

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

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