Day Trading Guide for July 6

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

 

₹2123 • HDFC Bank

S1

S2

R1

R2

COMMENT

2110

2095

2135

2145

Make use of intra-day declines to buy the stock of HDFC Bank with a stiff stop-loss at ₹2110 levels

 

₹1284 • Infosys

S1

S2

R1

R2

COMMENT

1270

1255

1300

1315

The stock is in a near-term correction and has tumbled 4.5 per cent. Desist trading in the stock for the session

 

₹272 • ITC

S1

S2

R1

R2

COMMENT

269

266

274

277

Near-term outlook is bullish for the stock of ITC after a strong rally of 3 per cent last session. Buy in dips

 

₹156 • ONGC

S1

S2

R1

R2

COMMENT

153

151

158

161

Fresh long positions can be initiated with a stiff stop-loss if the stock of ONGC reverses higher from ₹153 levels

 

₹965 • Reliance Ind.

S1

S2

R1

R2

COMMENT

955

943

976

988

Witnessing selling pressure at higher levels, the stock fell 2.5 per cent last session. Sell in rallies

 

₹256 • SBI

S1

S2

R1

R2

COMMENT

252

247

261

266

Consider initiating fresh short positions with a fixed stop-loss if the stock of SBI falls below ₹252 levels

 

₹1881 • TCS

S1

S2

R1

R2

COMMENT

1860

1840

1900

1920

Initiate fresh long positions with a stiff stop-loss if the stock of TCS rebounds up from ₹1860 levels

 

10751 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10700

10650

10800

10850

Fresh long positions can be initiated with a tight stop-loss only if the contract moves beyond 10800 levels

 

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

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