Day Trading Guide for August 26\, 2020

Day trading guid

Day Trading Guide for August 26, 2020

| Updated on August 25, 2020 Published on August 26, 2020

₹1119 • HDFC Bank

S1

S2

R1

R2

COMMENT

1100

1085

1130

1145

The stock looks upward biased and so initiate fresh long positions in intraday dips with stop-loss at ₹1,100

₹938 • Infosys

S1

S2

R1

R2

COMMENT

918

900

940

960

The near-term outlook turned negative as price slipped below ₹940; go short with a tight stop-loss

₹195 • ITC

S1

S2

R1

R2

COMMENT

192

189

200

203

Initiate fresh short positions with stop-loss at ₹198 if the stock of ITC decisively falls below ₹195

₹80 • ONGC

S1

S2

R1

R2

COMMENT

78

76

82

83.5

The price is hovering around the support of 80; short the stock with tight stop-loss if it breaks below ₹80

₹2082 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2070

2045

2135

2175

Though there are signs of weakness, the stock has support nearby. Sell it with tight stop-loss below ₹2,070

₹208 • SBI

S1

S2

R1

R2

COMMENT

207

204

212

215

Since the stock has moved above a resistance, fresh long positions can be initiated with stop-loss at ₹204

₹2242 • TCS

S1

S2

R1

R2

COMMENT

2230

2200

2280

2320

The stock is charting a narrow range. Go short with stop-loss at ₹2,260 if the price breaks below ₹2,230

11476 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11455

11400

11530

11580

Fresh long positions can be initiated with a stiff stop-loss only if the contract advances above 11,500 levels

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

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Published on August 26, 2020