Day trading guide for June 23: Intraday supports, resistances for Nifty50 stocks

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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.

₹1330 • 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

₹1437 • 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

₹265 • ITC

S1

S2

R1

R2

COMMENT

263

260

271

275

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

₹134 • ONGC

S1

S2

R1

R2

COMMENT

130

125

141

146

Initiate fresh short positions if the scrip falls below the support at 130; stop-loss at 135.

₹2506 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2500

2400

2550

2600

Short the stock if it declines below the support at 2500. Place stop-loss at 2550.

₹448 • SBI

S1

S2

R1

R2

COMMENT

446

442

456

461

Consider going short on the stock of SBI at the current level. Keep stop-loss at 456.

₹3223 • TCS

S1

S2

R1

R2

COMMENT

3185

3140

3250

3300

Short the stock when the price inches up to 3250 as it is a stron barrier; stop-loss at 3300.

15401 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

15350

15250

15500

15600

Go short on the contract at current level and on a rally to 15,500. Place stop-loss at 15,600.

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

Published on June 23, 2022

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