Day Trading Guide For June 6, 2019

 

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

₹2454 • HDFC Bank

S1

S2

R1

R2

COMMENT

2440

2425

2465

2475

Initiate fresh long positions with a fixed stop-loss if the stock moves beyond ₹2,465 levels

 

₹734 • Infosys

S1

S2

R1

R2

COMMENT

726

720

741

748

Consider initiating fresh long positions with a stiff stop-loss if the stock advances above ₹741 levels

 

₹279 • ITC

S1

S2

R1

R2

COMMENT

277

274

282

285

Fresh long positions can be initiated with a fixed stop-loss only if the stock of ITC rebounds up from ₹277 levels

 

₹170 • ONGC

S1

S2

R1

R2

COMMENT

167

164

173

176

Fresh long positions are recommended with a tight stop-loss only if the stock of ONGC climbs above ₹173 levels

 

₹1351 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1335

1320

1365

1382

Make use of intra-day dips to buy the stock of RIL while maintaining a fixed stop-loss at ₹1,335 levels

 

₹352 • SBI

S1

S2

R1

R2

COMMENT

346

340

358

363

Initiate fresh short position with a tight stop-loss only if the stock falls below ₹346 levels

 

₹2182 • TCS

S1

S2

R1

R2

COMMENT

2160

2140

2200

2220

Fresh short positions can be initiated with a stiff stop-loss if the stock of TCS declines below ₹2,160 levels

 

12056 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

12000

11950

12100

12150

The near-term stance remains positive as long as the contract trades above 12,000 levels. Buy in declines

 

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

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