Day Trading Guide For May 16

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





9453 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9415

9370

9475

9500

Initiate fresh long positions with a tight stop-loss if the contract reverses higher from 9415 levels



₹1555 • HDFC Bank

S1

S2

R1

R2

COMMENT

1545

1535

1565

1575

Fresh long positions can be initiated with a stiff stop-loss if the stock reverses higher from ₹1545 levels



₹951 • Infosys

S1

S2

R1

R2

COMMENT

940

930

960

970

Consider initiating fresh long positions with a fixed stop-loss only if the stock moves beyond ₹960 levels



₹277 • ITC

S1

S2

R1

R2

COMMENT

274

271

279

282

Make use of intra-day dips to initiate fresh long position on the stock while maintaining a fixed stop-loss at ₹274



₹186 • ONGC

S1

S2

R1

R2

COMMENT

183

180

190

193

Fresh long positions are recommended with a tight stop-loss only if the stock of ONGC climbs above ₹190 levels



₹1343 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1330

1315

1356

1370

Initiate fresh short positions with a stiff stop-loss if the stock of RIL declines below ₹1330 levels



₹300 • SBI

S1

S2

R1

R2

COMMENT

297

293

303

306

The stock tests a key resistance at ₹300. Desist trading in the stock for the session



₹2364 • TCS

S1

S2

R1

R2

COMMENT

2350

2330

2380

2400

Fresh long positions can be initiated with a stiff stop-loss if the stock rebounds up from ₹2350 levels



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

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