Day Trading Guide For June 7

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

₹2059 • HDFC Bank

S1

S2

R1

R2

COMMENT

2046

2030

2075

2088

The stock witnesses selling pressure at higher levels. Sell in rallies with a stiff stop-loss at ₹2075 levels

 

₹1235 • Infosys

S1

S2

R1

R2

COMMENT

1226

1215

1245

1255

Make use of intra-day declines to buy the shock of Infosys while maintaining a fixed stop-loss at ₹1226 levels

 

₹270 • ITC

S1

S2

R1

R2

COMMENT

268

265

273

276

Fresh long positions are recommended with a tight stop-loss only if the stock rallies above ₹273 levels

 

₹170 • ONGC

S1

S2

R1

R2

COMMENT

168

165

173

176

Initiate fresh long positions with a fixed stop-loss only if the stock of ONGC moves beyond ₹173 levels

 

₹953 • Reliance Ind.

S1

S2

R1

R2

COMMENT

942

930

963

975

Consider initiating fresh short positions with a fixed stop-loss only if the stock falls below ₹942 levels

 

₹269 • SBI

S1

S2

R1

R2

COMMENT

265

260

275

280

As long as the stock trades above ₹265, the near-term view stays positive for the stock. Buy in dips

 

₹1727 • TCS

S1

S2

R1

R2

COMMENT

1710

1690

1745

1760

Initiate fresh long positions with a tight stop-loss only if the stock rallies beyond ₹1745 levels

 

10686 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10640

10590

10735

10785

Fresh long positions can be initiated with a fixed stop-loss if the contract advances above 10735 levels

 

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

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