Day Trading Guide for June 1, 2022

BL Research Bureau Updated - June 01, 2022 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.

₹1387 • HDFC Bank

S1	S2	R1	R2	COMMENT
1360	1335	1405	1430	Immediate outlook is negative. Go short now and on a rise at 1395 with a stop-loss at 1415

₹1504 • Infosys

S1	S2	R1	R2	COMMENT
1485	1465	1520	1530	Can fall from here. But wait for a rise and go short at 1415 and 1425. Keep the Stop-loss at 1545

₹271 • ITC

S1	S2	R1	R2	COMMENT
270	268	273	275	Near-term outlook is not clear. Avoid trading this stock until a clear trend emerges

₹151 • ONGC

S1	S2	R1	R2	COMMENT
149	146	153	159	Initiate fresh long positions with a stop-loss at 151 only if the stock breaks above 153

₹2634 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2595	2550	2650	2685	Wait for a bounce and go short if RIL turns down from 2650. Stop-loss can be kept at 2670

₹468 • SBI

S1	S2	R1	R2	COMMENT
460	454	472	478	Near-term view is negative. Go short now and on a rise at 471 with a stop-loss at 474

₹3365 • TCS

S1	S2	R1	R2	COMMENT
3340	3320	3385	3405	Hovers below a crucial resistance. Initiate fresh short positions with a stop-loss at 3395

16555 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
16530	16470	16700	16800	Stuck in a narrow range. Wait for a range breakout to get clarity on the next move

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

Published on June 1, 2022 00:33