Day trading guide

Day trading guide for June 08: Intraday supports, resistances for Nifty50 stocks

BL Research Bureau | Updated on: Jun 07, 2022

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

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 and 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.

₹1363 • HDFC Bank

S1

S2

R1

R2

COMMENT

1350

1320

1380

1420

Near-term view is negative. Go short if the stock falls below 1350. Keep the stop-loss at 1365.

₹1507 • Infosys

S1

S2

R1

R2

COMMENT

1495

1470

1530

1555

Immediate outlook is unclear. Avoid trading this stock until a clear trade signal emerges.

₹274 • ITC

S1

S2

R1

R2

COMMENT

272

268

277

280

Near-term outlook is positive. Go long now and on dips at 273. Stop-loss can be placed at 269

₹162 • ONGC

S1

S2

R1

R2

COMMENT

155

150

164

169

Corrective fall is possible in the near-term. Go short now and at 163. Keep the stop-loss at 166.

₹2772 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2715

2670

2810

2875

Trend is up but can fall from here. Wait for dips to go long at 2725. Keep the stop-loss at 2690

₹463 • SBI

S1

S2

R1

R2

COMMENT

461

457

467

472

Wait for a rise and go short with a stop-loss at 469 only if the stock reverses lower from 467

₹3362 • TCS

S1

S2

R1

R2

COMMENT

3315

3265

3400

3450

Outlook is bearish. Initiate fresh short positions now and at 3385 with a stop-loss at 3410

16421 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

16360

16300

16480

16620

Looks vulnerable for a fresh fall. Go short now and on a rise 16470. Keep the stop-loss at 16530

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

Published on June 08, 2022
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