Day Trading Guide for May 10, 2019

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹2291 • HDFC Bank

S1

S2

R1

R2

COMMENT

2275

2260

2310

2325

Consider initiating fresh long positions with a fixed stop-loss if the stock rallies above ₹2,310 levels

 

₹721 • Infosys

S1

S2

R1

R2

COMMENT

713

707

730

737

Initiate fresh long positions with a tight stop-loss only if the stock moves beyond ₹730 levels

 

₹299 • ITC

S1

S2

R1

R2

COMMENT

297

295

302

305

Fresh long positions are recommended with a fixed stop-loss only if the stock of ITC climbs above ₹302 levels

 

₹169 • ONGC

S1

S2

R1

R2

COMMENT

166

163

172

175

Consider initiating fresh short positions with a stiff stop-loss if the stock of ONGC falls below ₹166 levels

 

₹1255 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1240

1225

1270

1285

Initiate fresh short positions with a tight stop-loss if the stock fails to move beyond ₹1,270 levels

 

₹299 • SBI

S1

S2

R1

R2

COMMENT

294

289

305

315

Fresh short positions are recommended with a stiff stop-loss only if the stock falls below ₹294 levels

 

₹2168 • TCS

S1

S2

R1

R2

COMMENT

2150

2130

2190

2210

Make use of intra-day dips to buy the stock of Infosys while maintaining a fixed stop-loss at ₹2,150 levels

 

11334 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11290

11250

11380

11420

Fresh long positions are recommended with a tight stop-loss only if the contract advances above 11,380 levels

 

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

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