Day Trading Guide for May 24, 2019

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

₹2334 • HDFC Bank

S1

S2

R1

R2

COMMENT

2320

2305

2350

2365

Make use of intra-day rallies to go short on the stock while maintaining a stiff stop-loss at ₹2,350 levels

 

₹701 • Infosys

S1

S2

R1

R2

COMMENT

695

686

709

716

Initiate fresh short positions with a fixed stop-loss if the stock reverses down from ₹709 levels

 

₹288 • ITC

S1

S2

R1

R2

COMMENT

285

282

292

295

The stock tumbled 3.7 per cent with good volume last session. Outlook is negative. Sell in rallies

 

₹174 • ONGC

S1

S2

R1

R2

COMMENT

171

168

177

180

Fresh short positions can be initiated with a tight stop-loss if the stock of ONGC fails to move beyond ₹177

 

₹1335 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1320

1305

1350

1365

Consider initiating fresh short positions with a fixed stop-loss if the stock of RIL declines below ₹1,320 levels

 

₹342 • SBI

S1

S2

R1

R2

COMMENT

336

329

350

358

Fresh long positions are recommended with a stiff stop-loss only if the stock advances above ₹350 levels

 

₹2053 • TCS

S1

S2

R1

R2

COMMENT

2030

2010

2075

2095

Make use of intra-day rallies to initiate fresh short positions with a fixed stop-loss at ₹2075 levels

 

11692 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11640

11585

11740

11790

Initiate fresh short positions with a tight stop-loss only if the contract fails to move beyond 11,740 levels

 

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

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