Day trading guide for June 09: Intraday supports, resistances for Nifty50 stocks

BL Research Bureau | Updated on: Jun 08, 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.

₹1367 • 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.

₹1500 • Infosys

S1

S2

R1

R2

COMMENT

1495

1470

1530

1555

Trading across a horizontal trend and lacks direction. Refrain from trading this stock.

₹268 • ITC

S1

S2

R1

R2

COMMENT

264

260

272

277

Near-term outlook is positive. Go long if the stock rebounds from the support at 264.

₹163 • ONGC

S1

S2

R1

R2

COMMENT

155

150

164

169

Rally might be capped at the current level. Short with stop-loss at 170.

₹2724 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2670

2630

2785

2850

Initiate fresh short positions if price falls below 2700. Stop-loss can be at 2760.

₹471 • SBI

S1

S2

R1

R2

COMMENT

460

450

476

485

Strong resistance ahead at 476. Short if the stock moves up to 476 with stop-loss at 485.

₹3404 • TCS

S1

S2

R1

R2

COMMENT

3350

3315

3420

3460

Outlook is bearish. Initiate fresh short positions now and at 3450 with a stop-loss at 3520.

16355 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

16350

16225

16440

16500

Trend is bearish. Short now and on a rally to 16440 with stop-loss 16500.

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

Published on June 09, 2022
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