Day trading guide for May 02, 2024: Intraday supports, resistances for Nifty50 stocks bl-premium-article-image

BL Research Bureau Updated - May 02, 2024 at 06:03 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 such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. 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.

₹1517 • HDFC Bank

S1

S2

R1

R2

COMMENT

1500

1485

1530

1550

Buy if the stock breaks out of 1530; stop-loss at 1510.

₹1421 • Infosys

S1

S2

R1

R2

COMMENT

1415

1385

1445

1480

Short this scrip if it slips below 1415; stop-loss at 1445.

₹435 • ITC

S1

S2

R1

R2

COMMENT

435

428

442

450

Stock is at a support; go long with stop-loss at 428.

₹282 • ONGC

S1

S2

R1

R2

COMMENT

280

275

285

300

Go long if the stock breaks out of 285; stop-loss at 275.

₹2931 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2890

2830

2975

3000

The stock is moving across a sideways trend; stay out.

₹825 • SBI

S1

S2

R1

R2

COMMENT

800

780

835

850

Buy when the stock dips to 800; place stop-loss at 775.

₹3822 • TCS

S1

S2

R1

R2

COMMENT

3800

3750

3900

4000

Consider fresh longs above 3900; stop-loss at 3860.

22708 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

22600

22500

22750

22950

Buy now and on a dip to 22600; stop-loss at 22500.

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

Published on May 2, 2024 00:33

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