Day Trading Guide for May 20, 2022

BL Research Bureau Updated - May 20, 2022 at 06:01 AM.

Here are the key intraday supports and resistances to watch out for Nifty Futures, RIL, ONGC, TCS, Infosys, HDFC Bank, SBI, and ITC

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks. 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.

₹1287 • HDFC Bank

S1	S2	R1	R2	COMMENT
1270	1220	1315	1330	Near-term support is holding well. Go long now and at 1275 with a stop-loss at 1260

₹1427 • Infosys

S1	S2	R1	R2	COMMENT
1400	1350	1450	1475	Outlook is bearish. Can fall further. Go short now and at 1445. Keep the stop-loss at 1460

₹276 • ITC

S1	S2	R1	R2	COMMENT
273	269	278	285	Upmove has gained momentum. Go long now and at 274. Stop-loss can be placed at 271

₹160 • ONGC

S1	S2	R1	R2	COMMENT
158	154	163	166	Initiate fresh short positions with a stop-loss at 161 only if the stock breaks below 158.

₹2479 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2420	2370	2495	2515	Can see a fresh fall from here. Initiate fresh short positions with a stop-loss at 2510

₹448 • SBI

S1	S2	R1	R2	COMMENT
445	439	450	454	Stuck in a narrow range. Go short on a break below 445. Keep the stop-loss at 448

₹3271 • TCS

S1	S2	R1	R2	COMMENT
3250	3230	3300	3350	Wait for a rise and go short with a stop-loss at 3315 if the stock reverses lower from 3300.

15784 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
15650	15500	15950	16100	Initiate fresh short positions if the contract breaks below 15650. Keep the stop-loss at 15720

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

Published on May 20, 2022 00:31