Day trading guide

Day Trading Guide for May 6, 2021

| Updated on May 05, 2021

₹1402 • HDFC Bank

S1

S2

R1

R2

COMMENT

1380

1360

1420

1450

Fresh long positions can be initiated with tight stop-loss if the stock rallies past ₹1,420

₹1341 • Infosys

S1

S2

R1

R2

COMMENT

1325

1300

1360

1370

Consider initiating fresh long positions with stop-loss at ₹1,330 as the support holds good

₹202 • ITC

S1

S2

R1

R2

COMMENT

201

199

205

207

Initiate fresh long positions with stop-loss at ₹199 as the price action shows bullish inclination

₹111 • ONGC

S1

S2

R1

R2

COMMENT

110

107

114

117

Go long in the stock of ONGC with stop-loss at ₹109 as it has closed above the resistance at ₹110

₹1920 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1900

1880

1950

1980

Initiate fresh short positions with a stiff stop-loss if the stock breaches the support at ₹1,900

₹355 • SBI

S1

S2

R1

R2

COMMENT

350

345

356

360

Refrain from initiating fresh positions on either side as the trend appears unclear on the chart

₹3095 • TCS

S1

S2

R1

R2

COMMENT

3050

3000

3100

3150

Fresh long positions are recommended with a fixed stop-loss if the stock breaches ₹3,100

14679 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

14600

14520

14750

14860

Initiate fresh long positions with stop-loss at 14,640 if the May contract breaks out of 14,700

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

Published on May 05, 2021

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