Day trading guide

Day Trading Guide for May 17, 2022

BL Research Bureau | Updated on: May 17, 2022

Here are the key intraday supports and resistances to watch out for on Nifty Futures, RIL, ONGC, TCS, Infosys, HDFC Bank, SBI, and ITC

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks. 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.

₹1305 • HDFC Bank

S1

S2

R1

R2

COMMENT

1290

1280

1320

1345

Initiate fresh long positions with a stop-loss at 1305 only if the stock breaks above 1320.

₹1489 • Infosys

S1

S2

R1

R2

COMMENT

1475

1450

1510

1530

Wait for a rise. Go short if the stock reverses lower from 1510. Keep the stop-loss at 1520

₹254 • ITC

S1

S2

R1

R2

COMMENT

252

249

256

259

Near-term outlook is bearish. Go short now and at 255. Stop-loss can be kept at 257

₹154 • ONGC

S1

S2

R1

R2

COMMENT

152

150

156

161

Immediate outlook is unclear. Avoid trading this stock until a clear trend emerges

₹2427 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2415

2370

2480

2500

Poised above a support. Go short only on a break below 2415. Keep the stop-loss at 2430.

₹455 • SBI

S1

S2

R1

R2

COMMENT

454

450

460

470

Initiate fresh short positions only if the stock breaks below 454. Keep the stop-loss at 457

₹3377 • TCS

S1

S2

R1

R2

COMMENT

3350

3300

3400

3450

Range-bound between 3350 and 3450. Wait for the range breakout and trade accordingly.

15865 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

15730

15600

15930

16000

Bias is negative. Go short now and on a rise at 15920. Keep the stop-loss at 15980

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

Published on May 17, 2022
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