Day Trading Guide For May 29

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

₹2042 • HDFC Bank

S1

S2

R1

R2

COMMENT

2028

2015

2052

2065

Near-term outlook is positive for the stock. Make use of intra-day dips to buy it with a fixed stop-loss at ₹2028

 

₹1214 • Infosys

S1

S2

R1

R2

COMMENT

1205

1995

1225

1235

Fresh short positions are recommended with a stiff stop-loss only if the stock drops below ₹1205 levels

 

₹275 • ITC

S1

S2

R1

R2

COMMENT

272

268

277

280

Consider initiating fresh short positions with a tight stop-loss only if the stock of ITC falls below ₹272 levels

 

₹175 • ONGC

S1

S2

R1

R2

COMMENT

173

170

178

182

Fresh long positions can be initiated with a fixed stop-loss if the stock of ONGC rebounds up from ₹173 levels

 

₹921 • Reliance Ind.

S1

S2

R1

R2

COMMENT

910

900

930

940

Initiate fresh short positions with a tight stop-loss only if the stock of RIL falls below ₹910 levels

 

₹272 • SBI

S1

S2

R1

R2

COMMENT

267

262

276

281

As long as the stock trades above ₹267, the near-term stance is positive for the stock. Buy in dips

 

₹3503 • TCS

S1

S2

R1

R2

COMMENT

3480

3460

3525

3550

Initiate fresh short positions with a tight stop-loss if the stock of TCS fails to move beyond ₹3525 levels

 

10678 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10630

10580

10725

10775

Consider initiating fresh long positions with a tight stop-loss only if the contract rebounds up from 10630 levels

 

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

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