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Day trading guide for June 21: Intraday supports, resistances for Nifty50 stocks – BusinessLine

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.

₹1322 • HDFC Bank

S1

S2

R1

R2

COMMENT

1295

1265

1345

1400

Bouncing back from a trend support. Initiate fresh long positions with a stop-loss at 1280

₹1415 • Infosys

S1

S2

R1

R2

COMMENT

1370

1325

1470

1530

Wait for a rise and go short if the stock reverses lower from 1470. Keep the stop-loss at 1495

₹264 • ITC

S1

S2

R1

R2

COMMENT

261

256

266

270

Resistance ahead. Go short if only if the stock breaks below 261. Stop-loss can be kept at 263

₹134 • ONGC

S1

S2

R1

R2

COMMENT

130

126

139

141

Limited room on the upside. Go short with a stop-loss at 141 if the stock turns down from 139

₹2543 • Reliance Ind.

S1

S2

R1

R2

COMMENT

2485

2450

2575

2600

Can fall further before reversing higher. Initiate fresh short positions with a stop-loss at 2590

₹434 • SBI

S1

S2

R1

R2

COMMENT

428

424

440

447

Short-term outlook is bearish. Go short now and on a rise at 438. Keep the stop-loss at 442

₹3113 • TCS

S1

S2

R1

R2

COMMENT

3090

3020

3180

3240

Resistance can cap the upside. Wait for a rise and go short at 3175 with a stop-loss at 3205

15366 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

15200

15000

15430

15650

Stuck in a narrow range. Wait for the range breakout and take trades accordingly.

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

Published on

June 21, 2022

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