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    HomeBusinessDay Trading Guide for June 3, 2022

    Day Trading Guide for June 3, 2022

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    Day trading guide

    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 03, 2022

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