Day Trading Guide For May 15

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

₹2021 • HDFC Bank

S1

S2

R1

R2

COMMENT

2010

2000

2030

2040

As long as the stock trades above ₹2010, the near-term view stays positive. Buy with a stop-loss at ₹2010

 

₹1189 • Infosys

S1

S2

R1

R2

COMMENT

1180

1167

1200

1210

Make use of intra-day declines to buy the stock of Infosys with a fixed stop-loss at ₹1180 levels

 

₹284 • ITC

S1

S2

R1

R2

COMMENT

282

279

286

289

Initiate fresh long positions with a stiff stop-loss if the stock of ITC moves beyond ₹286 levels

 

₹187 • ONGC

S1

S2

R1

R2

COMMENT

185

183

200

203

Consider initiating fresh long positions with a tight stop-loss if the stock of ONGC rebound up from ₹185 levels

 

₹984 • Reliance Ind.

S1

S2

R1

R2

COMMENT

975

965

993

1005

Fresh short positions are recommended with a stiff stop-loss only if the stock declines below ₹975 levels

 

₹253 • SBI

S1

S2

R1

R2

COMMENT

248

244

258

263

Near-term outlook is bullish for the stock of SBI. Utilise intra-day dips to buy the stock with a fixed stop-loss

 

₹3436 • TCS

S1

S2

R1

R2

COMMENT

3420

3400

3455

3480

Initiate fresh long positions with a fixed stop-loss only if the stock of rallies above ₹3455 levels

 

10814 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10770

10720

10850

10900

Fresh long positions can be initiated with a tight stop-loss only if the contract moves beyond 10850 levels

 

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

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