Day Trading Guide For June 8

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



9679 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

9640

9600

9717

9750

Consider initiating fresh long positions with a tight stop-loss only if the contract reverses higher from 9640 levels



₹1640 • HDFC Bank

S1

S2

R1

R2

COMMENT

1630

1615

1650

1660

Consider initiating fresh short positions with a tight stop-loss only if the stock declines below ₹1625 levels



₹961 • Infosys

S1

S2

R1

R2

COMMENT

950

940

970

980

Near-term outlook is bearish for the stock of Infosys. Sell the stock in rallies while maintaining a stop-loss at ₹970 levels



₹312 • ITC

S1

S2

R1

R2

COMMENT

309

306

315

318

Fresh short positions recommended with a fixed stop-loss if the stock of ITC declines below ₹309 levels



₹172 • ONGC

S1

S2

R1

R2

COMMENT

170

168

175

178

Consider initiating fresh long positions with a tight stop-loss if the stock rebounds up from ₹170 levels



₹1339 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1325

1310

1355

1368

Initiate fresh long positions with a fixed stop-loss if the stock of RIL advances above ₹1355 levels



₹290 • SBI

S1

S2

R1

R2

COMMENT

287

284

294

297

Make use of intra-day dips to go long on the stock while retaining a stiff stop-loss at ₹287 levels



₹2615 • TCS

S1

S2

R1

R2

COMMENT

2600

2580

2630

2650

Fresh short positions can be initiated with a fixed stop-loss if the stock of TCS slips below ₹2600 levels



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

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