Day Trading Guide for May-16

₹2039 • HDFC Bank

S1

S2

R1

R2

COMMENT

2030

2020

2052

2063

Fresh short positions can be initiated with a stiff stop-loss only if the stock declines below ₹2030 levels

₹1192 • Infosys

S1

S2

R1

R2

COMMENT

1180

1167

1200

1210

Consider initiating fresh long positions with a fixed stop-loss if the stock moves above ₹1200 levels

₹281 • ITC

S1

S2

R1

R2

COMMENT

279

276

285

287

Make use of intra-day rallies to initiate fresh short positions while maintaining a tight stop-loss at ₹285 levels

₹188 • ONGC

S1

S2

R1

R2

COMMENT

186

183

200

203

Initiate fresh long positions with a stiff stop-loss only if the stock of ONGC rallies above ₹200 levels

₹979 • Reliance Ind.

S1

S2

R1

R2

COMMENT

970

960

990

1000

Initiate fresh short positions with a fixed stop-loss if the stock fails to move beyond ₹990 levels

₹248 • SBI

S1

S2

R1

R2

COMMENT

244

240

253

258

Fresh long positions can be initiated with a tight stop-loss if the stock of SBI rebounds up from ₹244 levels

₹3482 • TCS

S1

S2

R1

R2

COMMENT

3455

3430

3500

3525

As long as the stock trades above ₹3455, the near-term stance remains positive. Buy in dips

10818 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10770

10720

10870

10920

Consider initiating fresh short positions with a tight stop-loss only if the contract declines below 10770 levels

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

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