Day Trading Guide for May 3, 2019

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

₹2353 • HDFC Bank

S1

S2

R1

R2

COMMENT

2340

2325

2365

2380

The stock is experiencing buying interest. Buy in declines while maintaining a fixed stop-loss at ₹2,340 levels

 

₹729 • Infosys

S1

S2

R1

R2

COMMENT

724

716

736

743

Initiate fresh short positions with a tight stop-loss if the stock of Infosys fails to move beyond ₹736 levels

 

₹304 • ITC

S1

S2

R1

R2

COMMENT

301

299

307

310

Consider initiating fresh long positions with a fixed stop-loss only if the stock rebounds up from ₹301 levels

 

₹169 • ONGC

S1

S2

R1

R2

COMMENT

166

163

171

174

Fresh short positions are recommended with a stiff stop-loss only if the stock falls below ₹166 levels

 

₹1405 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1390

1375

1415

1425

Initiate fresh long positions with a tight stop-loss only if the stock of RIL reverses higher from ₹1390 levels

 

₹307 • SBI

S1

S2

R1

R2

COMMENT

303

295

312

319

Initiate fresh short positions with a fixed stop-loss if the stock of if SBI declines below ₹303 levels

 

₹2214 • TCS

S1

S2

R1

R2

COMMENT

2190

2170

2235

2255

Make use of intra-day rallies to initiate fresh short positions while maintaining a stop-loss at ₹2,235 levels

 

11765 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11712

11670

11800

11840

Consider initiating fresh long positions with a tight stop-loss only if the contract advances above 11,800 levels

 

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

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