Day Trading Guide for May 16, 2019

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

₹2288 • HDFC Bank

S1

S2

R1

R2

COMMENT

2275

2260

2305

2320

Fresh short positions are recommended with a stiff stop-loss if the stock declines below ₹2,275 levels

 

₹716 • Infosys

S1

S2

R1

R2

COMMENT

710

704

722

730

Initiate fresh long positions with a fixed stop-loss if the stock of Infosys reverses higher from ₹710 levels

 

₹297 • ITC

S1

S2

R1

R2

COMMENT

294

291

300

303

Make use of intra-day dips to buy the stock of ITC while retaining a stiff stop-loss at ₹294 levels

 

₹162 • ONGC

S1

S2

R1

R2

COMMENT

160

157

166

169

Consider initiating fresh short positions with a tight stop-loss if the stock of ONGC fails to move beyond ₹166

 

₹1257 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1245

1230

1275

1290

Initiate fresh long positions with a fixed stop-loss only if the stock of RIL moves beyond ₹1,275 levels

 

₹311 • SBI

S1

S2

R1

R2

COMMENT

306

300

318

325

Fresh long positions can be initiated with a tight stop-loss if the stock rebounds up from ₹306 levels

 

₹2094 • TCS

S1

S2

R1

R2

COMMENT

2075

2055

2115

2135

Fresh long positions are recommended with a fixed stop-loss only if the stock rallies above ₹2,115 levels

 

11177 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11138

11100

11225

11275

Consider initiating fresh long positions with a tight stop-loss only if the contract advances above 11,225 levels

 

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

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