Wednesday, September 17, 2008

September 17, 2008, Single Stock

RIL -We are looking at a very strong buy signal in RIL . A doji on Monday, followed by a fully engulfing green candle yesterday. There is a strong resistance at 1930-40. That should be taken out in the opening. If it is, we will now take a risk and go long on RIL.
Trading Strategy: Go long if 1940 is broken, with strict stop losses at supports
Supports: 1800, 1768
Resistances: 1930-40 , 2020

No comments: