Day Trading Guide For May 24

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

9390 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9350

9300

9440

9490

Consider initiating fresh short positions with a tight stop-loss if the contract fails to move beyond 9440 levels



₹1568 • HDFC Bank

S1

S2

R1

R2

COMMENT

1555

1545

1576

1585

Fresh short positions are recommended with a fixed stop-loss only if the stock drops below ₹1,555 levels



₹957 • Infosys

S1

S2

R1

R2

COMMENT

950

940

967

980

Make use of intra-day dips to initiate fresh long position while maintaining a stiff stop-loss at ₹950 levels



₹300 • ITC

S1

S2

R1

R2

COMMENT

297

293

303

306

Initiate fresh long positions with a tight stop-loss if the stock of ITC reverses higher from ₹297 levels



₹174 • ONGC

S1

S2

R1

R2

COMMENT

172

170

177

180

Near-term outlook is bearish for the stock of ONGC. Sell in rallies while maintaining a stop-loss at ₹170 levels



₹1304 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1290

1275

1320

1335

Make use of intra-day rallies to sell the while maintaining a stiff stop-loss at ₹1320 levels



₹289 • SBI

S1

S2

R1

R2

COMMENT

286

283

293

297

Initiate fresh short positions with a tight stop-loss if the stock of SBI declines below ₹286 levels



₹2520 • TCS

S1

S2

R1

R2

COMMENT

2500

2480

2540

2560

Initiate fresh long positions with a fixed stop-loss only if the stock advances above ₹2540 levels



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

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