Day trading guide

Day Trading Guide for May 22, 2020

| Updated on May 21, 2020 Published on May 21, 2020

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

₹859 • HDFC Bank

S1

S2

R1

R2

COMMENT

845

830

875

890

Consider initiating fresh long positions with a stiff stop-loss if the stock moves above ₹875 levels

₹672 • Infosys

S1

S2

R1

R2

COMMENT

660

650

680

690

The stock has been moving sideways in a narrow range over the past four trading sessions. Buy above ₹680 levels

₹188 • ITC

S1

S2

R1

R2

COMMENT

185

181

193

197

The stock jumped 7.5 per cent last session and the near-term outlook is bullish. Buy in declines with a fixed stop-loss

₹77 • ONGC

S1

S2

R1

R2

COMMENT

75

72

80

83

Fresh short positions are recommended with a fixed stop-loss only if the stock of ONGC falls below ₹75 levels

₹1440 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1425

1410

1455

1470

Initiate fresh short positions with a stiff stop-loss if the stock of RIL reverses down from ₹1,455 levels

₹151 • SBI

S1

S2

R1

R2

COMMENT

147

142

156

162

The stock of SBI tests a key support at ₹150. Go short with a tight stop-loss only on fall below ₹147 levels

₹1991 • TCS

S1

S2

R1

R2

COMMENT

1970

1950

2015

2035

Fresh long positions can be initiated with a fixed stop-loss only if the stock reverses higher from ₹1,970 levels

9075 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9000

8900

9130

9200

Initiate fresh short positions with a tight stop-loss only if the contract declines below 9,000 levels

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

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Published on May 21, 2020
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