Day trading guide for May 17, 2024: Intraday supports, resistances for Nifty50 stocks bl-premium-article-image

BL Research Bureau Updated - May 17, 2024 at 06:20 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, and 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.

₹1460 • HDFC Bank

S1

S2

R1

R2

COMMENT

1435

1400

1470

1490

Go long only above 1470. Keep the stop-loss at 1465

₹1453 • Infosys

S1

S2

R1

R2

COMMENT

1435

1410

1460

1500

Go long only above 1460. Keep the stop-loss at 1455

₹431 • ITC

S1

S2

R1

R2

COMMENT

429

426

435

438

Go long now and at 430. Stop-loss can be kept at 428

₹278 • ONGC

S1

S2

R1

R2

COMMENT

274

271

279

282

Wait for dips. Go long at 275. Keep the stop-loss at 273

₹2850 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2825

2790

2860

2885

Go long only above 2860. Stop-loss can be kept at 2845

₹812 • SBI

S1

S2

R1

R2

COMMENT

804

798

815

820

Go long on a break above 815 with a stop-loss at 813

₹3900 • TCS

S1

S2

R1

R2

COMMENT

3865

3840

3910

3950

Go long only on a break above 3910 with a stop-loss at 3895

22473 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

22400

22280

22525

22640

Wait for dips. Go long at 22420. Stop-loss can be kept at 22380

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

Published on May 17, 2024 00:50

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