Day Trading Guide for June 7, 2019

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

₹2425 • HDFC Bank

S1

S2

R1

R2

COMMENT

2414

2400

2440

2455

Fresh short positions can be initiated with a fixed stop-loss if the stock fails to move beyond ₹2,440 levels

 

₹737 • Infosys

S1

S2

R1

R2

COMMENT

730

724

744

750

Initiate fresh long positions with a stiff stop-loss only if the stock of Infosys rallies above ₹744 levels

 

₹276 • ITC

S1

S2

R1

R2

COMMENT

273

270

279

282

Near-term outlook is bearish. Sell the stock in intra-day rallies while maintaining a stop-loss at ₹279 levels

 

₹169 • ONGC

S1

S2

R1

R2

COMMENT

167

164

172

175

Initiate fresh long positions with a tight stop-loss only if the stock of ONGC advances above ₹172 levels

 

₹1327 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1315

1300

1342

1355

Consider initiating fresh short positions with a fixed stop-loss if the stock reverses down from ₹1,342 levels

 

₹337 • SBI

S1

S2

R1

R2

COMMENT

331

324

345

352

The stock fell 4 per cent witnessing selling pressure last session. Sell on rallies with a tight stop-loss at ₹345

 

₹2167 • TCS

S1

S2

R1

R2

COMMENT

2145

2125

2185

2205

Make use of intra-day rallies to go short while retaining a fixed stop-loss at ₹2,185 levels

 

11884 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11830

11780

11940

11990

Consider initiating fresh short positions with a tight stop-loss only if the contract falls below 11,830 levels

 

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

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