Day Trading Guide for May 21, 2019

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

₹2432 • HDFC Bank

S1

S2

R1

R2

COMMENT

2415

2400

2445

2460

Initiate fresh long positions with a fixed stop-loss if the stock reverses higher from ₹2,415 levels

 

₹722 • Infosys

S1

S2

R1

R2

COMMENT

714

706

728

735

Fresh long positions can be initiated with a tight stop-loss only if the stock rebounds up from ₹714 levels

 

₹307 • ITC

S1

S2

R1

R2

COMMENT

304

301

310

313

Outlook is positive for the stock of ITC. Buy in dips with a tight stop-loss at ₹304 levels

 

₹176 • ONGC

S1

S2

R1

R2

COMMENT

172

168

180

183

Make use of intra-day declines to buy the stock while maintaining a stiff stop-loss at ₹172 levels

 

₹1325 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1312

1296

1337

1350

Initiate fresh long positions with a fixed stop-loss if the stock moves beyond ₹1,337 levels

 

₹344 • SBI

S1

S2

R1

R2

COMMENT

338

332

350

355

Consider initiating fresh long positions with a tight stop-loss if the stock of SBI reverses higher from ₹338 levels

 

₹2139 • TCS

S1

S2

R1

R2

COMMENT

2120

2100

2160

2180

Fresh long positions are recommended with a stiff stop-loss only if the stock of TCS rallies above ₹2,160 levels

 

11859 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11800

11750

11900

11950

Near-term outlook is bullish for the contract buy in declines while maintaining a fixed stop-loss at 11,800 levels

 

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

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