Day Trading Guide For May 17

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

₹2024 • HDFC Bank

S1

S2

R1

R2

COMMENT

2014

2000

2036

2047

Initiate fresh short positions with a tight stop-loss if the stock fails to move beyond ₹2036 levels

 

₹1190 • Infosys

S1

S2

R1

R2

COMMENT

1180

1167

1200

1210

Fresh long positions can be initiated with a stiff stop-loss if the stock of Infosys reverses higher from ₹1180 levels

 

₹285 • ITC

S1

S2

R1

R2

COMMENT

283

281

289

292

Fresh long positions are recommended with a fixed stop-loss only if the stock advances above ₹289 levels

 

₹187 • ONGC

S1

S2

R1

R2

COMMENT

185

183

190

194

Consider initiating fresh long positions with a stiff stop-loss only if the stock of ONGC rallies above ₹190 levels

 

₹956 • Reliance Ind.

S1

S2

R1

R2

COMMENT

945

933

966

976

The stock is experiencing selling pressure at higher levels. Make use of intra-day up move to sell the stock

 

₹243 • SBI

S1

S2

R1

R2

COMMENT

240

235

246

250

Initiate fresh long positions with a stiff stop-loss only if the stock of SBI climbs above ₹246 levels

 

₹3495 • TCS

S1

S2

R1

R2

COMMENT

3475

3450

3515

3534

Consider initiating fresh long positions with a fixed stop-loss only if the stock advances above ₹3515 levels

 

10761 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10720

10675

10815

10860

Fresh short positions can be initiated with a tight stop-loss if the contract fails to rally beyond 10815 levels

 

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

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