Day Trading Guide for May 20, 2022 bl-premium-article-image

BL Research Bureau Updated - May 20, 2022 at 06:01 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. 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.

₹1287 • HDFC Bank

S1

S2

R1

R2

COMMENT

1270

1220

1315

1330

Near-term support is holding well. Go long now and at 1275 with a stop-loss at 1260

₹1427 • Infosys

S1

S2

R1

R2

COMMENT

1400

1350

1450

1475

Outlook is bearish. Can fall further. Go short now and at 1445. Keep the stop-loss at 1460

₹276 • ITC

S1

S2

R1

R2

COMMENT

273

269

278

285

Upmove has gained momentum. Go long now and at 274. Stop-loss can be placed at 271

₹160 • ONGC

S1

S2

R1

R2

COMMENT

158

154

163

166

Initiate fresh short positions with a stop-loss at 161 only if the stock breaks below 158.

₹2479 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2420

2370

2495

2515

Can see a fresh fall from here. Initiate fresh short positions with a stop-loss at 2510

₹448 • SBI

S1

S2

R1

R2

COMMENT

445

439

450

454

Stuck in a narrow range. Go short on a break below 445. Keep the stop-loss at 448

₹3271 • TCS

S1

S2

R1

R2

COMMENT

3250

3230

3300

3350

Wait for a rise and go short with a stop-loss at 3315 if the stock reverses lower from 3300.

15784 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

15650

15500

15950

16100

Initiate fresh short positions if the contract breaks below 15650. Keep the stop-loss at 15720

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

Published on May 20, 2022 00:31

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