Day Trading Guide for May 7, 2019

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

₹2328 • HDFC Bank

S1

S2

R1

R2

COMMENT

2315

2300

2340

2355

Fresh short positions can be initiated with a stiff stop-loss if the stock declines below ₹2,315 levels

 

₹717 • Infosys

S1

S2

R1

R2

COMMENT

710

702

724

730

Consider initiating fresh long positions with a fixed stop-loss if the stock reverses higher from ₹710 levels

 

₹307 • ITC

S1

S2

R1

R2

COMMENT

304

301

310

313

Make use of intra-day dips to buy the stock of ITC while maintaining a stop-loss at ₹304 levels

 

₹170 • ONGC

S1

S2

R1

R2

COMMENT

167

164

172

175

Initiate fresh short positions with a tight stop-loss only if the stock of ONGC falls below ₹167 levels

 

₹1384 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1370

1355

1400

1415

Fresh short positions are recommended with a stiff stop-loss only if the stock declines below ₹1,370 levels

 

₹308 • SBI

S1

S2

R1

R2

COMMENT

303

295

314

320

Initiate fresh long positions with a fixed stop-loss only if the stock of SBI advances above ₹314 levels

 

₹2154 • TCS

S1

S2

R1

R2

COMMENT

2135

2115

2175

2195

Fresh long positions can be initiated with a stiff stop-loss if the stock of TCS rebounds up from ₹2,135 levels

 

11656 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11610

11560

11700

11750

Fresh long positions can be initiated with a tight stop-loss only if the contract moves beyond 11,700 levels

 

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

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