Day trading guide

Day Trading Guide for May 7, 2021

| Updated on May 06, 2021

₹1401 • HDFC Bank

S1

S2

R1

R2

COMMENT

1380

1360

1420

1450

Fresh long positions can be initiated with tight stop-loss if the stock rallies past ₹1,420

₹1361 • Infosys

S1

S2

R1

R2

COMMENT

1350

1325

1370

1400

Consider initiating fresh long positions with stop-loss at ₹1,340 if it breaks out of ₹1,370

₹203 • ITC

S1

S2

R1

R2

COMMENT

201

199

205

207

Initiate fresh long positions with stop-loss at ₹199 as the price action shows bullish inclination

₹110 • ONGC

S1

S2

R1

R2

COMMENT

110

107

114

117

Go short in the stock of ONGC with tight stop-loss if it breaks below the support of ₹110

₹1931 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1900

1880

1935

1980

Initiate fresh long positions with a stiff stop-loss if the stock breaches the resistance at ₹1,935

₹355 • SBI

S1

S2

R1

R2

COMMENT

350

345

356

360

Refrain from initiating fresh positions on either side as the trend appears unclear on the chart

₹3111 • TCS

S1

S2

R1

R2

COMMENT

3100

3050

3150

3200

Fresh long positions are recommended with stop-loss ₹3,075 as the stock appears bullish

14770 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

14750

14700

14860

14930

Fresh long positions can be initiated with stop-loss at 14,715 as the contract is likely to rally

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

Published on May 07, 2021

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