Day trading guide

Day trading guide for June 24: Intraday supports, resistances for Nifty50 stocks

BL Research Bureau | Updated on: Jun 23, 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.

₹1337 • HDFC Bank

S1

S2

R1

R2

COMMENT

1320

1295

1355

1380

Hovering below a key resistance. Go short now and on a rise at 1345 with a stop-loss at 1365

₹1453 • Infosys

S1

S2

R1

R2

COMMENT

1445

1430

1460

1475

Stuck in a narrow range. Go long only if the stock breaks above 1460. Keep the stop-loss at 1445

₹266 • ITC

S1

S2

R1

R2

COMMENT

264

260

268

272

Immediate outlook is positive. Go long now and accumulate at 265 with a stop-loss at 261

₹135 • ONGC

S1

S2

R1

R2

COMMENT

133

130

136

139

Initiate fresh long positions only if ONGC breaks above 136. Stop-loss can be kept at 134

₹2465 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2420

2360

2505

2560

A key short-term trend support is broken. Go short now and at 2495. Keep the stop-loss at 2525

₹451 • SBI

S1

S2

R1

R2

COMMENT

445

440

455

460

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

₹3309 • TCS

S1

S2

R1

R2

COMMENT

3280

3240

3345

3400

Outlook is bullish. Initiate fresh long positions now and at 3290 with a stop-loss at 3265

15593 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

15500

15380

15620

15700

Key resistance ahead. Go short with a stop-loss at 15720 if the contract reverses lower from 15620.

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

Published on June 24, 2022
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