Day Trading Guide for June 4, 2024: Intraday supports, resistances for Nifty50 stocks

BL Research Bureau Updated - June 04, 2024 at 06:03 AM.

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.

₹1515 • HDFC Bank

S1	S2	R1	R2	COMMENT
1500	1480	1530	1550	Buy the stock now and on a dip to 1500; stop-loss at 1480.

₹1425 • Infosys

S1	S2	R1	R2	COMMENT
1420	1400	1450	1475	Price action is bearish but there is a support; stay out.

₹424 • ITC

S1	S2	R1	R2	COMMENT
422	416	430	440	Go short if the price slips below 422; stop-loss at 426.

₹266 • ONGC

S1	S2	R1	R2	COMMENT
265	256	275	282	Buy if the stock sees a rebound; place stop-loss at 262.

₹2850 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2830	2780	2900	2970	Sell the stock if the price falls below 2830; stop-loss at 2860.

₹826 • SBI

S1	S2	R1	R2	COMMENT
820	800	836	850	Go long if it breaks out of 836; place stop-loss at 820.

₹3735 • TCS

S1	S2	R1	R2	COMMENT
3730	3670	3800	3850	Go short if the stock inches up to 3800; stop-loss at 3850.

22660 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
22550	22300	22870	23000	Buy if the contract rises above 22750; stop-loss at 22640.

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

Published on June 4, 2024 00:33