Day Trading Guide for May 19, 2022

BL Research Bureau Updated - May 19, 2022 at 06:03 AM.

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.

₹1314 • HDFC Bank

S1	S2	R1	R2	COMMENT
1300	1285	1340	1375	Outlook is unclear. Can go either way. Avoid trading this stock until a clear trend emerges

₹1510 • Infosys

S1	S2	R1	R2	COMMENT
1505	1480	1530	1560	Bias is turning negative. Go short now and on a rise at 1525. Keep the stop-loss at 1545

₹266 • ITC

S1	S2	R1	R2	COMMENT
264	262	268	273	Key resistance ahead. Go long only if ITC breaks above 268. Stop-loss can be kept at 266

₹163 • ONGC

S1	S2	R1	R2	COMMENT
160	156	166	170	Nearing a resistance. Go short with a stop-loss at 168 if the stock reverses lower from 16

₹2539 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2525	2500	2570	2600	Initiate fresh long positions if the RIL bounces from 2525. Keep the stop-loss at 2505.

₹458 • SBI

S1	S2	R1	R2	COMMENT
454	446	460	465	Outlook is bearish. Go short now and accumulate at 460. Stop-loss can be kept at 462.

₹3450 • TCS

S1	S2	R1	R2	COMMENT
3440	3420	3480	3500	The risk reward ratio does not suggest a strong entry now. Avoid trading this stock.

16237 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
16180	16000	16400	16500	Initiate fresh short positions with a stop-loss at 16230 if the contract breaks below 16180.

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

Published on May 19, 2022 00:33