Day Trading Guide for June 11, 2019

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

₹2442 • HDFC Bank

S1

S2

R1

R2

COMMENT

2430

2415

2455

2467

Consider initiating fresh short positions with a fixed stop-loss if the stock falls below ₹2,430 levels

 

₹753 • Infosys

S1

S2

R1

R2

COMMENT

745

737

760

766

Near-term stance is bullish for the stock of Infosys. Buy in dips while maintaining a stop-loss at ₹745 levels

 

₹279 • ITC

S1

S2

R1

R2

COMMENT

276

273

282

285

Fresh long positions are recommended with a stiff stop-loss only if the stock of ITC moves above ₹282 levels

 

₹164 • ONGC

S1

S2

R1

R2

COMMENT

161

158

167

170

Make use of intra-day rallies to initiate fresh short positions while retaining a fixed stop-loss at ₹167 levels

 

₹1318 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1304

1290

1330

1345

Initiate fresh short positions with a tight stop-loss only if the stock declines below ₹1,304 levels

 

₹343 • SBI

S1

S2

R1

R2

COMMENT

337

331

348

355

Fresh short positions can be initiated with a stiff stop-loss if the stock fails to move beyond ₹348 levels

 

₹2231 • TCS

S1

S2

R1

R2

COMMENT

2210

2190

2250

2270

Initiate fresh long positions with a fixed stop-loss if the stock rebounds up from ₹2,210 levels

 

11933 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11880

11830

11980

12030

Fresh long positions can be initiated with a tight stop-loss if the contract reverses higher from 11,880 levels

 

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

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