Day Trading Guide For June 02

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

9630 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9590

9550

9650

9683

The contract is volatile and hovering in a narrow range. Go short only on a fall below 9590 levels with a fixed stop-loss



₹1627 • HDFC Bank

S1

S2

R1

R2

COMMENT

1615

1600

1645

1655

Fresh short positions are recommended with a stiff stop-loss only if the stock declines below ₹1615 levels



₹970 • Infosys

S1

S2

R1

R2

COMMENT

960

950

980

990

Consider initiating fresh long positions with a tight stop-loss only if the stock rebounds up from ₹960 levels



₹314 • ITC

S1

S2

R1

R2

COMMENT

311

309

316

319

Fresh long positions recommended with a fixed stop-loss if the stock of ITC moves beyond ₹316 levels



₹173 • ONGC

S1

S2

R1

R2

COMMENT

171

168

177

180

Make use of intra-day rallies to initiate fresh short positions while retaining a stiff stop-loss at ₹177 levels



₹1328 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1315

1300

1340

1355

Initiate fresh short positions with a tight stop-loss if the stock of RIL reverses down from ₹1340 levels



₹287 • SBI

S1

S2

R1

R2

COMMENT

285

283

291

294

Make use of intra-day declines to initiate fresh long positions with a tight stop-loss at ₹285 levels



₹2550 • TCS

S1

S2

R1

R2

COMMENT

2530

2510

2570

2590

Initiate fresh long positions with a stiff stop-loss if the stock of TCS advances above ₹2570 levels



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

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