Day trading guide

Day Trading Guide for May 23, 2019

| Updated on May 22, 2019 Published on May 23, 2019

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

₹2405 • HDFC Bank

S1

S2

R1

R2

COMMENT

2390

2375

2317

2330

Consider initiating fresh long positions with a stiff stop-loss only if the stock advances above ₹2,317 levels

 

₹709 • Infosys

S1

S2

R1

R2

COMMENT

702

695

716

723

Fresh short positions are recommended with a fixed stop-loss only if stock of Infosys falls below ₹702 levels

 

₹299 • ITC

S1

S2

R1

R2

COMMENT

296

293

303

306

Initiate fresh short positions with a tight stop-loss if the stock of ITC fails to move beyond ₹303 levels

 

₹176 • ONGC

S1

S2

R1

R2

COMMENT

173

170

179

182

Near-term stance is positive for the stock of ONGC. Buy in declines with a fixed stop-loss at ₹173 levels

 

₹1340 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1325

1310

1353

1366

Initiate fresh long positions with a stiff stop-loss if the stock of RIL rallies above ₹1,353 levels

 

₹340 • SBI

S1

S2

R1

R2

COMMENT

334

327

345

350

Make use of intra-day dips to go long on the stock while maintaining a fixed stop-loss at ₹334 levels

 

₹2082 • TCS

S1

S2

R1

R2

COMMENT

2060

2040

2105

2125

Fresh long position can be initiated with a fixed stop-loss only if the stock climbs above ₹2,105 levels

 

11781 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11715

11660

11830

11885

Consider initiating fresh long positions with a tight stop-loss if the contract rallies above 11,830 levels

 

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

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