Day trading guide

Day Trading Guide for May 5, 2021

| Updated on May 04, 2021

₹1388 • HDFC Bank

S1

S2

R1

R2

COMMENT

1385

1372

1400

1420

Fresh long positions can be initiated with tight stop-loss if the stock rebounds from ₹1,385

₹1329 • Infosys

S1

S2

R1

R2

COMMENT

1325

1300

1340

1360

Consider initiating fresh short positions with a tight stop-loss only if the stock slips below ₹1,325

₹199 • ITC

S1

S2

R1

R2

COMMENT

196

192

200

204

Initiate fresh short positions with a tight stop-loss as the stock is now below the support of ₹200

₹109 • ONGC

S1

S2

R1

R2

COMMENT

106

104

110

112

Go long in the stock of ONGC with stop-loss at ₹108 if it breaks out of the resistance at ₹110

₹1916 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1900

1880

1950

1980

Initiate fresh short positions with a stiff stop-loss if the stock breaches the support at ₹1,900

₹351 • SBI

S1

S2

R1

R2

COMMENT

350

345

356

360

Initiate fresh short positions with stop-loss at ₹353 only if the stock declines below the base ₹350

₹3049 • TCS

S1

S2

R1

R2

COMMENT

3000

2950

3050

3100

Fresh long positions are recommended with a fixed stop-loss only if the stock sustains above ₹3,050

14549 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

14500

14460

14600

14640

Initiate fresh long positions with stop-loss at 14,460 if the May contract bounces off 14,500

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

Published on May 04, 2021

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