Day Trading Guide for May 23

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



9443 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9400

9350

9490

9535

Fresh short positions can be initiated with a tight stop-loss if the contract declines below 9,400 levels



₹1575 • HDFC Bank

S1

S2

R1

R2

COMMENT

1565

1555

1585

1595

Initiate fresh long positions with a fixed stop-loss if the stock rebounds up from ₹1,565 levels



₹959 • Infosys

S1

S2

R1

R2

COMMENT

950

940

970

980

Fresh long positions can be initiated with a stiff stop-loss if the stock reverses higher from ₹950 levels



₹303 • ITC

S1

S2

R1

R2

COMMENT

299

295

306

310

Near-term outlook is bullish for the stock of ITC. Buy it in dips while maintaining a fixed stop-loss at ₹299 levels



₹177 • ONGC

S1

S2

R1

R2

COMMENT

175

172

180

183

The stock breached a key support level of ₹180 last session. Sell the stock in rallies with a stiff stop-loss



₹1323 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1315

1300

1340

1355

Initiate fresh short positions with a tight stop-loss if the stock of RIL fails to move beyond ₹1,340 levels



₹294 • SBI

S1

S2

R1

R2

COMMENT

291

287

298

302

Outlook is bearish for the stock of SBI. Make use of intra-day rallies to sell the stock with a fixed stop-loss



₹2529 • TCS

S1

S2

R1

R2

COMMENT

2510

2490

2550

2570

Make use of intra-day declines to buy the stock of TCS while maintaining a tight stop-loss at ₹2510 levels



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

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