Day Trading Guide for May 18, 2022

BL Research Bureau Updated - May 18, 2022 at 06:05 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.

₹1314 • HDFC Bank

S1	S2	R1	R2	COMMENT
1300	1285	1330	1360	Has room to rise in the near-term. Initiate fresh long positions with a stop-loss at 1295.

₹1519 • Infosys

S1	S2	R1	R2	COMMENT
1500	1475	1530	1565	Resistance ahead. Go long only if the stock breaks above 1530. Keep the stop-loss at 1515

₹265 • ITC

S1	S2	R1	R2	COMMENT
262	259	268	273	Near-term outlook is bullish. Initiate fresh long positions now and at 263 with a stop-loss at 261

₹163 • ONGC

S1	S2	R1	R2	COMMENT
161	158	166	170	Immediate outlook is positive. Initiate fresh long positions now and at 161 with a stop-loss at 160

₹2531 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2485	2420	2565	2605	Can rise further from here. Go long now and on dips at 2505. Keep the stop-loss at 2480

₹467 • SBI

S1	S2	R1	R2	COMMENT
465	460	472	478	Resistance ahead. Wait for a rise and go short with a stop-loss at 475 if SBI reverses lower from 472.

₹3452 • TCS

S1	S2	R1	R2	COMMENT
3435	3385	3505	3545	Outlook has turned bullish. Go long now and on dips at 3445. Stop-loss can be placed at 3420.

16266 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
16100	15920	16400	16520	Initiate fresh long positions if the contract breaks above 16300. Keep the stop-loss at 16220

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

Published on May 18, 2022 00:35