Day Trading Guide For May 18

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



9533 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9490

9450

9555

9580

Fresh long positions can be initiated with a fixed stop-loss if the contract moves beyond 9,555 levels



₹1558 • HDFC Bank

S1

S2

R1

R2

COMMENT

1548

1535

1565

1575

Initiate fresh short positions with a stiff stop-loss if the stock fails to move beyond ₹1,565 levels



₹952 • Infosys

S1

S2

R1

R2

COMMENT

944

935

965

975

Fresh long positions can be initiated with a tight stop-loss if the stock rebounds up from ₹944 levels



₹281 • ITC

S1

S2

R1

R2

COMMENT

279

277

284

287

Make use of intra-day declines to initiate fresh long positions while maintaining a stiff stop-loss at ₹279 levels



₹184 • ONGC

S1

S2

R1

R2

COMMENT

182

179

188

191

Consider initiating fresh short positions with a fixed stop-loss if the stock of ONGC falls below ₹182 levels



₹1352 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1340

1325

1365

1380

Initiate fresh short positions with a tight stop-loss only if the stock reverses down from ₹1365 levels



₹307 • SBI

S1

S2

R1

R2

COMMENT

304

301

310

313

Fresh long positions are recommended with a stiff stop-loss only if the stock advances above ₹310 levels



₹2451 • TCS

S1

S2

R1

R2

COMMENT

2430

2410

2470

2490

Make use of intra-day dips to initiate fresh long positions while retaining a fixed stop-loss at ₹2,430 levels.



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

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