So you should bar the engine over so the lobe on the camshaft that actuates the lift pump plunger is at the low point by using a barring tool, turning the alternator opposite of engine rotation, or removing the bellhousing inspection cover and use a flathead screwdriver against the bellhousing on the flywheel ring gear. Those are in the order id prefer to turn the engine over. Some say use one of the bolts that hold the dampener on the crankshaft but that can be sketchy and if you snap a bolt you’re going to be sorry.
So how do you know the lobe is at its low point? Remove the fuel lines from the pump. Loosen the 2 bolts holding the original lift pump about 1/4” or slightly more. Note the tension on the bolts. If the lift pump wiggles you’re probably already at the low point. If the bolts seem to have tension rotate the engine until the pump seems free. Then you should be at the low point. Having a helper makes this go a lot easier. Have them bar as you manipulate the pump.
With that done the need for studs is no longer.
The lift pump I bought came with a new plunger so that’s what I used.