Day trading guide

Day Trading Guide for May 22

| Updated on May 21, 2018 Published on May 21, 2018

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

₹1991 • HDFC Bank

S1

S2

R1

R2

COMMENT

1980

1960

2002

2015

Initiate fresh short positions with a fixed stop-loss only if the stock declines below ₹1980 levels

 

₹1182 • Infosys

S1

S2

R1

R2

COMMENT

1175

1165

1195

1205

Fresh long positions are recommended with a stiff stop-loss only if the stock of Infosys advances above ₹1195 levels

 

₹282 • ITC

S1

S2

R1

R2

COMMENT

279

276

284

287

Initiate fresh short potions with a tight stop-loss if the stock fails to move beyond ₹284 levels

 

₹185 • ONGC

S1

S2

R1

R2

COMMENT

183

180

188

191

Consider initiating fresh short positions with a fixed stop-loss if the stock of ONGC drops below ₹183 levels

 

₹931 • Reliance Ind.

S1

S2

R1

R2

COMMENT

920

910

942

955

Initiate fresh long positions with a stiff stop-loss if the stock of RIL advances above ₹942 levels

 

₹245 • SBI

S1

S2

R1

R2

COMMENT

240

235

250

255

Make use of intra-day dips to buy the stock of SBI while maintaining a fixed stop-loss at ₹240 levels

 

₹3557 • TCS

S1

S2

R1

R2

COMMENT

3530

3510

3580

3600

Near-term outlook stays positive as long as the stock trades above ₹3530 levels. Buy in dips

 

10538 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10500

10450

10590

10635

The contract trades above key support levels. Go short only if it declines below 10500 with a fixed stop-loss

 

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

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