Day Trading Guide for June 3, 2022

BL Research Bureau Updated - June 03, 2022 at 06:03 AM.

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.

₹1385 • HDFC Bank

S1	S2	R1	R2	COMMENT
1378	1350	1400	1425	Initiate fresh short positions if the stock breaks below 1378. Stop-loss can be kept at 1390

₹1508 • Infosys

S1	S2	R1	R2	COMMENT
1485	1440	1515	1530	Resistance can cap the upside. Initiate fresh short positions now with a stop-loss at 1525

₹273 • ITC

S1	S2	R1	R2	COMMENT
271	268	275	280	Resistance ahead. Go long only if the stock breaks above 275. Keep the stop-loss at 273

₹153 • ONGC

S1	S2	R1	R2	COMMENT
150	148	156	160	Near-term outlook is positive. Initiate fresh long positions now with a stop-loss at 149

₹2725 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2700	2655	2780	2810	Outlook is bullish. Go long now and accumulate at 2705. Stop-loss can be placed at 2685

₹470 • SBI

S1	S2	R1	R2	COMMENT
465	462	473	477	Can go either way from here. Avoid trading this stock until the trend becomes clear

₹3423 • TCS

S1	S2	R1	R2	COMMENT
3400	3350	3450	3490	Near-term view is bullish. Initiate fresh long positions now. Kee the stop-loss at 3390

16630 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
16570	16400	16700	16800	Range bound. Go long with a stop-loss at 16660 only if the contract breaks above 16700.

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

Published on June 3, 2022 00:33