Day Trading Guide for June 02, 2022

BL Research Bureau Updated - June 02, 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.

₹1396 • HDFC Bank

S1	S2	R1	R2	COMMENT
1380	1355	1405	1425	Initiate fresh long positions with a stop-loss at 1395 only if the stock breaks above 1405

₹1479 • Infosys

S1	S2	R1	R2	COMMENT
1465	1450	1500	1530	Near-term trend is down. Go short now and on a rise at 1495 with a stop-loss at 1510

₹272 • ITC

S1	S2	R1	R2	COMMENT
270	265	275	278	Key trend support ahead. Go long with a stop-loss at 268 if the stock bounces from 270.

₹150 • ONGC

S1	S2	R1	R2	COMMENT
148	145	153	158	Immediate trend is not clear. Can go either way. Avoid trading this stock for a while

₹2632 • Reliance Ind.

S1	S2	R1	R2	COMMENT
2615	2600	2640	2665	Resistance ahead. Go short if the stock fails to break above 2640. Keep the stop-loss at 2655

₹468 • SBI

S1	S2	R1	R2	COMMENT
465	461	472	477	Wait for a rise and go short if the stock reverses lower from 472. Stop-loss can be kept at 474

₹3356 • TCS

S1	S2	R1	R2	COMMENT
3340	3320	3375	3390	Near-term trend is unclear. Avoid trading this stock until a clear trend and trade signal emerges

16530 • Nifty 50 Futures

S1	S2	R1	R2	COMMENT
16450	16400	16570	16680	Initiate fresh short positions if the contract turns down from 16570. Keep the stop-loss at 16620

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

Published on June 2, 2022 00:33