Day Trading Guide for August 23, 2022

BL Research Bureau Updated - August 23, 2022 at 06:14 AM.

Here are the key intraday supports and resistances to watch out for Nifty Futures, RIL, ONGC, TCS, Infosys, HDFC Bank, SBI, and ITC

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks. 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.

₹1470 • HDFC Bank

S1	S2	R1	R2	COMMENT
1455	1420	1480	1500	Near-term outlook is negative. Go short now and on a rise at 1475 with a stop-loss at 1495

₹1575 • Infosys

S1	S2	R1	R2	COMMENT
1570	1555	1600	1630	Room for more fall. Initiate fresh short positions now and at 1595. Keep the stop-loss at 1610

₹314 • ITC

S1	S2	R1	R2	COMMENT
311	309	317	320	Corrective fall is possible. Initiate fresh short positions now and at 316 with a stop-loss at 319

₹132 • ONGC

S1	S2	R1	R2	COMMENT
130	128	135	138	Can fall from here. But wait for a rise and go short at 134. Stop-loss can be placed at 137

₹2607 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2585	2550	2620	2640	Initiate fresh short positions only if the stock breaks below 2585. Keep the stop-loss at 2595

₹511 • SBI

S1	S2	R1	R2	COMMENT
507	503	518	524	Near-term trend is down. Can fall further from here. Go short now with a tight stop-loss at 515

₹3354 • TCS

S1	S2	R1	R2	COMMENT
3330	3300	3370	3400	Near-term bias is turning weak. Initiate fresh short positions now with a stop-loss at 3380

17499 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
17370	17240	17600	17750	Sell-off strengthens. Initiate fresh short positions now and at 17560 with a stop-loss at 17620

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

Published on August 23, 2022 00:44