Day Trading Guide for May 12\, 2020

Day trading guide

Day Trading Guide for May 12, 2020

| Updated on May 11, 2020 Published on May 12, 2020

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

₹915 • HDFC Bank

S1

S2

R1

R2

COMMENT

900

885

930

945

Fresh short positions are recommended with a stiff stop-loss only if the stock declines below ₹900 levels

 

₹682 • Infosys

S1

S2

R1

R2

COMMENT

675

665

690

700

Initiate fresh short positions with a tight stop-loss if the stock reverses down from ₹690 levels

 

₹158 • ITC

S1

S2

R1

R2

COMMENT

156

153

161

164

Consider initiating fresh short positions with a fixed stop-loss only if the stock of ITC falls below ₹156 levels

 

₹77 • ONGC

S1

S2

R1

R2

COMMENT

74

71

79

82

Initiate fresh long positions with a tight stop-loss if the stock of ONGC manages to rally above ₹79 levels

 

₹1576 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1560

1545

1590

1605

Fresh short positions are recommended with a tight stop-loss only if the stock falls below ₹1,560 levels

 

₹165 • SBI

S1

S2

R1

R2

COMMENT

160

155

170

176

Initiate fresh short positions with fixed stop-loss if the stock of SBI fails to move beyond ₹170 levels

 

₹1935 • TCS

S1

S2

R1

R2

COMMENT

1910

1890

1952

1975

Initiate fresh long positions with a fixed stop-loss if the stock advances above ₹1,952 levels

 

9225 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9150

9075

9300

9375

Fresh long positions can be initiated with a tight stop-loss only if the contract moves above 9,300 levels

 

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

Published on May 12, 2020
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