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Day Trading Guide For May 10

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Day trading guide

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.

₹1320 • HDFC Bank

S1

S2

R1

R2

COMMENT

1300

1260

1335

1350

Resistance ahead. Wait for a rise and go short at 1330. Stop-loss can be placed at 1345

₹1570 • Infosys

S1

S2

R1

R2

COMMENT

1550

1520

1600

1635

Initiate fresh short positions with a stop-loss at 1615 if the stock reverses lower from 1600.

₹263 • ITC

S1

S2

R1

R2

COMMENT

260

255

267

273

Immediate outlook unclear. Go short if ITC breaks below 260. Keep the stop-loss at 262

₹165 • ONGC

S1

S2

R1

R2

COMMENT

163

160

167

169

Near-term trend is unclear. Avoid trading this stock until a clear trend emerges

₹2517 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2500

2450

2550

2585

Poised above a crucial support. Go short with a stop-loss at 2515 on a break below 2500

₹476 • SBI

S1

S2

R1

R2

COMMENT

472

468

480

485

Can see a fresh fall. Go short now and also accumulate shorts at 479 with a stop-loss at 482

₹3446 • TCS

S1

S2

R1

R2

COMMENT

3425

3385

3460

3485

Resistance ahead. Go short if the stock reverses lower from 3460. Stop-loss can be placed at 3475

16310 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

16200

16150

16400

16450

Corrective rise is possible. Go short on a rise at 16380 and 16430. Keep the stop-loss at 16480

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

Published on May 10, 2022

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