Day trading guide for June 22: Intraday supports, resistances for Nifty50 stocks

view original post

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.

₹1336 • HDFC Bank

S1

S2

R1

R2

COMMENT

1320

1295

1345

1355

Reversing lower from a key resistance. Can see a fresh fall. Go short now with a stop-loss at 1355

₹1450 • Infosys

S1

S2

R1

R2

COMMENT

1435

1420

1455

1465

Resistance is holding well. Initiate fresh short positions now. Stop-loss can be kept at 1460

₹270 • ITC

S1

S2

R1

R2

COMMENT

267

263

271

275

Initiate fresh long positions with a stop-loss at 269 only if the stock breaks above 271.

₹139 • ONGC

S1

S2

R1

R2

COMMENT

138

135

141

146

Trend has reversed up. Initiate fresh long positions now and at 138 with a stop-loss at 136.

₹2584 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2555

2520

2595

2620

Initiate fresh short positions if the stock turns down from 2595. Stop-loss can be kept at 2610

₹451 • SBI

S1

S2

R1

R2

COMMENT

446

442

456

461

Near-term view is positive. Go long now and on on dips at 447. Keep the stop-loss at 444

₹3212 • TCS

S1

S2

R1

R2

COMMENT

3185

3140

3235

3270

Can rise further from here. Go long now and on dips at 3190. Stop-loss can be placed at 3175

15633 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

15590

15430

15760

15820

Near a key resistance. Go short with a stop-loss at 15620 only if the contract breaks below 15590.

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

Published on June 22, 2022

Related Posts