Day Trading Guide for May 9, 2019

₹2308 • HDFC Bank

S1

S2

R1

R2

COMMENT

2290

2275

2325

2340

Fresh long positions can be initiated with a stiff stop-loss if the stock rebounds up from ₹2,290 levels

₹718 • Infosys

S1

S2

R1

R2

COMMENT

710

704

724

730

Fresh short positions are recommended with a tight stop-loss only if the stock falls below ₹710 levels

₹300 • ITC

S1

S2

R1

R2

COMMENT

298

295

303

306

Consider initiating fresh short positions with a tight stop-loss if the stock of ITC fails to move above ₹303 levels

₹168 • ONGC

S1

S2

R1

R2

COMMENT

166

163

172

175

Initiate fresh short positions with a fixed stop-loss only if the stock of ONGC reverses down from ₹172 levels

₹1299 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1285

1270

1315

1330

Near-term stance is bearish for the stock of RIL. Sell during intra-day rallies with a stiff stop-loss at ₹1,315 levels

₹298 • SBI

S1

S2

R1

R2

COMMENT

294

289

305

315

Make use of intra-day rallies to initiate fresh short positions while maintaining a fixed stop-loss at ₹305 levels

₹2152 • TCS

S1

S2

R1

R2

COMMENT

2130

2110

2170

2190

Consider initiating fresh long positions with a stiff stop-loss if the stock advances above ₹2,170 levels

11418 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11370

11320

11470

11520

Initiate fresh long positions with a tight stop-loss only if the contract rebounds up from 11,370 levels

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

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