Day trading guide

Day Trading Guide for May 31

| Updated on May 30, 2018 Published on May 30, 2018

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

₹2046 • HDFC Bank

S1

S2

R1

R2

COMMENT

2033

2020

2055

2065

Make use of intra-day dips to initiate fresh long positions with a fixed stop-loss at ₹2033 levels

 

₹1214 • Infosys

S1

S2

R1

R2

COMMENT

1205

1995

1225

1235

Consider initiating fresh long positions with a stiff stop-loss only if the stock of Infosys moves beyond ₹1225 levels

 

₹271 • ITC

S1

S2

R1

R2

COMMENT

270

268

275

278

Fresh short positions are recommended with a tight stop-loss if the stock of ITC falls below ₹270 levels

 

₹173 • ONGC

S1

S2

R1

R2

COMMENT

171

168

177

181

Initiate fresh long positions with a tight stop-loss if the stock of ONGC advances above ₹177 levels

 

₹917 • Reliance Ind.

S1

S2

R1

R2

COMMENT

910

900

927

940

Fresh long positions are recommended with a fixed stop-loss only if the stock rallies above ₹927 levels

 

₹266 • SBI

S1

S2

R1

R2

COMMENT

262

257

272

277

The stock witnesses buying interest at lower levels. Buy in declines with a fixed stop-loss at ₹262 levels

 

₹3517 • TCS

S1

S2

R1

R2

COMMENT

3490

3460

3540

3570

Initiate fresh short positions with stiff stop-loss only if the stock declines below ₹3490 levels

 

10604 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10550

10500

10650

10700

Fresh long positions can be initiated with a tight stop-loss only if the contract rallies above 10650 levels

 

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

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