Day Trading Guide For May 10

BL Research Bureau | Updated on: May 09, 2022

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.

₹1320 • HDFC Bank

S1	S2	R1	R2	COMMENT
1300	1260	1335	1350	Resistance ahead. Wait for a rise and go short at 1330. Stop-loss can be placed at 1345

₹1570 • Infosys

S1	S2	R1	R2	COMMENT
1550	1520	1600	1635	Initiate fresh short positions with a stop-loss at 1615 if the stock reverses lower from 1600.

₹263 • ITC

S1	S2	R1	R2	COMMENT
260	255	267	273	Immediate outlook unclear. Go short if ITC breaks below 260. Keep the stop-loss at 262

₹165 • ONGC

S1	S2	R1	R2	COMMENT
163	160	167	169	Near-term trend is unclear. Avoid trading this stock until a clear trend emerges

₹2517 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2500	2450	2550	2585	Poised above a crucial support. Go short with a stop-loss at 2515 on a break below 2500

₹476 • SBI

S1	S2	R1	R2	COMMENT
472	468	480	485	Can see a fresh fall. Go short now and also accumulate shorts at 479 with a stop-loss at 482

₹3446 • TCS

S1	S2	R1	R2	COMMENT
3425	3385	3460	3485	Resistance ahead. Go short if the stock reverses lower from 3460. Stop-loss can be placed at 3475

16310 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
16200	16150	16400	16450	Corrective rise is possible. Go short on a rise at 16380 and 16430. Keep the stop-loss at 16480

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

Published on May 10, 2022

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