Day trading guide

Day Trading Guide for May 23

| Updated on May 22, 2018 Published on May 22, 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

Fresh short positions can be initiated with a tight stop-loss if the stock fails to move beyond ₹2002 levels

 

₹1193 • Infosys

S1

S2

R1

R2

COMMENT

1184

1175

1205

1215

Make use of intra-day dips to buy the stock of Infosys with a stiff stop-loss placed at ₹1184 levels

 

₹278 • ITC

S1

S2

R1

R2

COMMENT

275

272

281

284

Fresh short positions are recommended with a stiff stop-loss only if the stock of ITC drops below ₹275 levels

 

₹184 • ONGC

S1

S2

R1

R2

COMMENT

182

180

187

190

Initiate fresh short positions with a fixed stop-loss if the stock reverses down from ₹187 levels

 

₹926 • Reliance Ind.

S1

S2

R1

R2

COMMENT

915

900

935

945

Consider initiating fresh short positions with a stiff stop-loss if the stock of RIL fails to move beyond ₹935 levels

 

₹254 • SBI

S1

S2

R1

R2

COMMENT

249

244

258

263

The stock is witnessing buying interest at lower levels. Buy in declines with a tight stop-loss at ₹249 levels

 

₹3508 • TCS

S1

S2

R1

R2

COMMENT

3490

3470

3530

3550

Initiate fresh short positions with a stiff stop-loss only if the stock declines below ₹3490 levels

 

10552 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10500

10450

10600

10650

Fresh long positions are recommended with a tight stop-loss only if the contract advances above 10,600 levels

 

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

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