Thursday, October 30, 2008

Ocotber 31, 2008, Single Stock

RIL - On Wednesday RIL continued its up move. However Wednesday was a doji candle. We will watch for reversal of this up move today. If RIL is able to hold above previous lows we could see a continuation of the up-move.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1149, 1113
Resistances: 1235, 1280-1300

Infy - Infy continued its up move on Wednesday. For a clear up trend to be established Infy needs to break 1412.
Trading Strategy: Stay long with stop loss at 1160
Supports: 1284, 1160
Resistances: 1333, 1412

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