Day Trading Guide For June 5

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

₹2046 • HDFC Bank

S1

S2

R1

R2

COMMENT

2030

2000

2080

2100

Outlook is bearish. Go short and also accumulate on rallies with a stop-loss at ₹2,085

 

₹1240 • Infosys

S1

S2

R1

R2

COMMENT

1225

1210

1245

1260

Resistance ahead. Go long with a stop-loss at ₹1,230 only if the stock breaks above ₹1,245.

 

₹268 • ITC

S1

S2

R1

R2

COMMENT

267

265

270

273

Downtrend intensifies. Go short now and also at ₹269. Keep the stop-loss at ₹271

 

₹171 • ONGC

S1

S2

R1

R2

COMMENT

170

167

174

177

Downtrend is likely to resume. Initiate fresh short positions with a stop-loss at ₹175

 

₹939 • Reliance Ind.

S1

S2

R1

R2

COMMENT

927

915

950

960

Outlook is bullish. Go long and also accumulate on dips. Stop-loss can be placed at ₹920

 

₹263 • SBI

S1

S2

R1

R2

COMMENT

260

256

270

274

Range bound. Go long with a stop-loss at ₹258 only if the SBI reverses higher from ₹260

 

₹1744 • TCS

S1

S2

R1

R2

COMMENT

1700

1650

1770

1800

Initiate fresh short position with a stop-loss at ₹1,720 if TCS breaks below ₹1700

 

10598 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10570

10530

10640

10700

Go long only if the index futures reverses higher from 10,570. Keep the stop-loss at 10,545

 

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

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