Day Trading Guide For May-04

9340 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9300

9250

9372

9400

Fresh short positions can be initiated with a fixed stop-loss only if the contract declines below 9300 levels



₹1541 • HDFC Bank

S1

S2

R1

R2

COMMENT

1530

1515

1555

1567

Initiate fresh short positions with a stiff stop-loss if the stock declines below ₹1530 levels



₹935 • Infosys

S1

S2

R1

R2

COMMENT

924

915

945

955

Make use of intra-day dips to buy the stock of Infoys while maintaining a fixed stop-loss at ₹924 levels



₹277 • ITC

S1

S2

R1

R2

COMMENT

275

272

280

283

Near-term view is bearish for the stock of ITC. Sell in rallies with a tight stop-loss at ₹280 levels



₹190 • ONGC

S1

S2

R1

R2

COMMENT

188

185

193

195

Fresh long positions can be initiated with a stiff stop-loss if the stock reverses higher from ₹188 levels



₹1370 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1355

1340

1385

1400

Fresh short positions are recommended with a tight stop-loss only if the stock declines below ₹1355 levels



₹289 • SBI

S1

S2

R1

R2

COMMENT

286

283

292

295

The stock is volatile and tests a key resistance level. Desist trading from the stock for the session



₹2337 • TCS

S1

S2

R1

R2

COMMENT

2320

2300

2360

2380

Fresh long positions can be initiated with a fixed stop-loss if the stock reverses higher from ₹2320 levels



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

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