Day Trading Guide For May 22, 2019

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

₹2403 • HDFC Bank

S1

S2

R1

R2

COMMENT

2390

2375

2315

2330

Fresh short positions are recommended with a fixed stop-loss only if the stock drops below ₹2,390 levels

 

₹709 • Infosys

S1

S2

R1

R2

COMMENT

702

695

716

723

Initiate fresh short positions with a tight stop-loss if the stock of Infosys reverses down from ₹716 levels

 

₹305 • ITC

S1

S2

R1

R2

COMMENT

303

300

308

311

Consider initiating fresh long positions with a tight stop-loss if the stock of ITC rebounds up from ₹303 levels

 

₹174 • ONGC

S1

S2

R1

R2

COMMENT

171

168

177

180

Utilise intra-day dips to buy the stock of ONGC while retaining a stiff stop-loss at ₹171 levels

 

₹1339 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1325

1310

1353

1366

Fresh long positions can be initiated with a fixed stop-loss if the stock moves beyond ₹1,353 levels

 

₹337 • SBI

S1

S2

R1

R2

COMMENT

332

325

344

350

Initiate fresh short positions with a tight stop-loss only if the stock declines below ₹332 levels

 

₹2109 • TCS

S1

S2

R1

R2

COMMENT

2090

2070

2130

2150

Make use of intra-day rallies to initiate fresh short positions while retaining a stiff stop-loss at ₹2,130 levels

 

11715 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11665

11610

11760

11810

Initiate fresh long positions with a tight stop-loss if the contract advances above 11,760 levels

 

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

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