Day trading guide for August 23, 2023: Intraday supports, resistances for Nifty50 stocks

BL Research Bureau Updated - August 23, 2023 at 06:03 AM.

The 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.

₹1582 • HDFC Bank

S1	S2	R1	R2	COMMENT
1560	1530	1590	1600	Go short now and at 1590. Keep the stop-loss at 1605

₹1404 • Infosys

S1	S2	R1	R2	COMMENT
1395	1380	1410	1420	Go long now and at 1400. Keep the stop-loss at 1390

₹454 • ITC

S1	S2	R1	R2	COMMENT
451	447	457	459	Go long now and at 452. Stop-loss can be kept at 450

₹176 • ONGC

S1	S2	R1	R2	COMMENT
174	172	177	179	Initiate fresh shorts now. Keep the stop-loss at 178

₹2519 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2500	2480	2540	2560	Can go either way. Avoid trading this stock for now

₹568 • SBI

S1	S2	R1	R2	COMMENT
565	562	571	575	Go short now and at 570. Keep the stop-loss at 572

₹3383 • TCS

S1	S2	R1	R2	COMMENT
3360	3330	3410	3460	Go long now and at 3365. Stop-loss can be placed at 3355

19381 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
19310	19270	19435	19520	Go short now and at 19420. Keep the stop-loss at 19460

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

Published on August 23, 2023 00:33