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

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

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    Day trading guide

    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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