October 28, 2008, Single Stock

RIL - Due to various reasons we could not post yesterday. Yesterday RIL showed high volumes accompanied by a reversal signal. RIL is oversold, but is still making new lows everyday. So we will wait for a confirmation of the trend reversal.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1020, 930
Resistances: 1158, 1271

Infy - Infy broke 1190 yesterday, but recovered to close near its 5-EMA. If Infy is able to break its 5-EMA and hold above, it could sustain a recovery.
Trading strategy: Play for supports/resistances breaks or bounces.
Supports: 1160, 1040
Resistances: 1270, 1412