Day trading guide

Day Trading Guide For May 8

| Updated on May 07, 2018 Published on May 07, 2018

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

₹1979 • HDFC Bank

S1

S2

R1

R2

COMMENT

1967

1958

1990

2000

Fresh long positions can be initiated with a stiff stop-loss if the stock rebounds up from ₹1967 levels

 

₹1183 • Infosys

S1

S2

R1

R2

COMMENT

1170

1160

1190

1200

Consider initiating fresh long positions with a fixed stop-loss only if the stock advances above ₹1190 levels

 

₹281 • ITC

S1

S2

R1

R2

COMMENT

278

275

284

287

Initiate fresh long positions with a tight stop-loss if the stock of ITC moves beyond ₹284 levels

 

₹183 • ONGC

S1

S2

R1

R2

COMMENT

181

178

186

189

Make use of intra-day dips to buy the stock of ONGC while maintaining a fixed stop-loss at ₹181 levels

 

₹971 • Reliance Ind.

S1

S2

R1

R2

COMMENT

962

952

980

990

Initiate fresh long positions with a stiff stop-loss if the stock advances above ₹980 levels

 

₹246 • SBI

S1

S2

R1

R2

COMMENT

241

236

250

255

Fresh long positions can be initiated with a fixed stop-loss if the stock of SBI reverses higher from ₹241 levels

 

₹3427 • TCS

S1

S2

R1

R2

COMMENT

3400

3375

3455

3480

Initiate fresh short positions with a tight stop-loss if the stock falls below ₹3400 levels

 

10739 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10700

10665

10780

10825

Fresh long positions can be initiated with a tight stop-loss if the contract rebounds up from 10700 levels

 

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

Read further by subscribing to

The Hindu Businessline

What You'll Get

  • Web + Mobile

    Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device.


  • Exclusive portfolio stories and investment advice

    Gain exclusive market insights from the Hindu Businessline's research desk.


  • Ad free experience

    Experience cleaner site with zero ads and faster load times.


  • Personalised dashboard

    Customize your preference and get a personalized recommendation of stories based on your intrest.

This article is closed for comments.
Please Email the Editor