September 12, 2008, Single Stock

RIL- Not only did RIL fall 4% yesterday, volumes were also quite high. Technicals continue to be weak, though we could see a minor pull back today. The next support for RIL is at its 52-week low of 1920. If that also breaks, we could see a prolonged downside move in RIL.
Trading Strategy: We hope you made good profits yesterday. If you did not book your profits on your short yesterday, the do so today. Wait and watch. 1920 is an important support.
Supports: 1920, 1812
Resistances: 2074-2089, 2165-2179