Day trading guide

Day Trading Guide for May 21, 2020

| Updated on May 20, 2020

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹858 • HDFC Bank

S1

S2

R1

R2

COMMENT

845

830

875

890

Initiate fresh long positions with a stiff stop-loss if the stock reverses higher from ₹845 levels

 

₹670 • Infosys

S1

S2

R1

R2

COMMENT

660

650

680

690

Make use of intra-day declines to buy the stock of Infosys while maintaining a fixed stop-loss at ₹660 levels

 

₹175 • ITC

S1

S2

R1

R2

COMMENT

173

170

179

182

The stock is witnessing buying interest at lower levels. Buy in declines with a fixed stop-loss at ₹173 levels

 

₹78 • ONGC

S1

S2

R1

R2

COMMENT

75

72

80

83

Consider initiating fresh long positions with a stiff stop-loss only if the stock of ONGC moves beyond ₹80 levels

 

₹1434 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1420

1405

1450

1465

Fresh long positions can be initiated with a tight stop-loss only if the sock of RIL rallies above ₹1,450 levels

 

₹153 • SBI

S1

S2

R1

R2

COMMENT

147

142

158

164

Consider initiating fresh long positions with a fixed stop-loss only if the stock of SBI moves beyond ₹158 levels

 

₹1952 • TCS

S1

S2

R1

R2

COMMENT

1930

1910

1970

1990

Initiate fresh long positions with a stiff stop-loss if the stock rebounds up from ₹1,930 levels

 

9066 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9000

8900

9125

9200

Consider initiating fresh long positions with a tight stop-loss if the contract reverses higher from 9,000 levels

 

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

Published on May 20, 2020

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