November 28, 2008, Single Stock

RIL - RIL broke any clear trend indications yesterday. The uptrend is not yet confirmed. RIL did move above is 5-Day SMA. This is a slight positive indicator.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1032, 930
Resistances: 1198-1205, 1375

Infy - Another indecisive candle on Wednesday. We now expect a major move from Infy. We will wait to see which way the market jumps, and then take a position. Play
Trading Strategy: Play for supports/resistances breaks or bounces, with strict stop losses.
Supports: 1186, 1040
Resistances: 1237, 1355

November 28, 2008, Nifty

Over the last three trading sessions Nifty seems have faced a strong support between 2633 and 2654. This could form the base of another short rally if it holds. Asia is up a touch, Nifty should open flat.

Trading strategy: Stay long with stop loss at 2633
Supports: 2702, 2633-2654
Resistances: 2825, 2871

November 26, 2008, Nifty

The rally was clearly stopped yesterday. We will wait to see if yesterday was a pivot point, and if they rally will once again pick up steam. Asia is up this morning so Nifty should open gap up.

Trading strategy: Play for supports/resistances breaks or bounces.
Supports: 2503, 2253
Resistances: 2810, 2871

November 26, 2008, Single Stock

RIL - RIL broke any clear trend indications yesterday. The uptrend was not confirmed. We will once again watch for low of 930.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1032, 930
Resistances: 1198-1205, 1375

Infy - Infy clearly exhibited a higher high and higher low yesterday. However yesterday was also a doji, indicating indecision in the market. We will wait to see which way the market jumps, and then take a position.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1090, 1040
Resistances: 1355 , 1447

November 25, 2008, Single Stock

RIL - RIL clearly exhibited a higher high and higher low yesterday. There is now a strong possibility of an uptrend in RIL. The important point is RIL did not go back to its Oct low of 930!
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1114, 1032
Resistances: 1198-1205, 1375

Infy - Infy clearly exhibited a higher high and higher low yesterday. There is now a strong possibility of an uptrend in Infy. We will wait for confirmation.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1090, 1040
Resistances: 1180, 1355

November 25, 2008, Nifty

The rally continued on Monday. Asia is up this morning so Nifty should open gap up.

Trading strategy: Stay Long with a stop loss at Monday's low of 2633. Keep the stop loss strict!
Supports: 2633-2647, 2502
Resistances: 2810, 2871

November 24, 2008, Nifty

Infra problems, so we are posting after market open.

Friday was a clear reversal sign for the Nifty. We could see a short rally from here, but keep the stop loss strict.
Trading strategy: Long with a stop loss at Friday's low of 2540

November 21, 2008, Nifty

Nifty continues its strong downward trend. Asia is down this morning. We expect the Nifty will open touch down. Support of 2524 was taken out yesterday, however Nifty found support at the psychological 2500 level. If Nifty holds today above 2500, we could see a rally for a few days.

Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2488 , 2257
Resistances: 2668, 2808

November 21, 2008, Single Stock

RIL - We could not confirm an uptrend for Reliance. We are now looking to see if it will make a low higher than the previous low of 930
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1000, 930
Resistances: 1117, 1221

Infy - We are looking to see if 1040 will hold and Infy can reverse its downtrend from here.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1060, 1040
Resistances: 1180, 1355

November 20, 2008, Nifty

Nifty continues its strong downward trend. Asia is down this morning. We expect the Nifty will open down. Support of 2630 was taken out yesterday. The next support is 2524. We are getting closer to the Oct 27 lows. We will watch to see if the Nifty can rebound from there.

Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2524 , 2257
Resistances: 2749, 2808

November 20, 2008, Single Stock

RIL - RIL broke its downtrend yesterday. We will look today to see if an uptrend sets in. A close above 1140 would be a good indicator.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1070, 930
Resistances: 1140, 1221

Infy - Infy clearly broke its support at 1160. The next support is at 1040.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1060, 1040
Resistances: 1208, 1355

November 19, 2008, Nifty

Nifty broke the support of 2685, but closed just below it. The next strong support is 2630. If Nifty can bounce back from there it will be a positive signal. Asia is flat to down this morning. We expect the Nifty will have a flat or touch up opening.
Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2630, 2524
Resistances: 2753, 2808

November 19, 2008, Single Stock

RIL - RIL continued on it downtrend. However RIL closed well above its open, indicating that we could see a reversal signal today.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1070, 930
Resistances: 1159, 1204

Infy - Again, Infy came close to its support of 1160, but did not break it. Nifty also did not make a new low yesterday. It stayed above Monday's low of 1170. We will look to see if Infy will break 1160 today or will bounce back from this level.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1160, 1040
Resistances: 1226, 1355

November 18, 2008, Nifty

Asia is down this morning. We expect the Nifty will have a flat or touch down opening. 20-SMA and 5-SMA are at the same level. If the Nifty could break out now it will be a positive signal.
Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2753, 2685
Resistances: 2924, 3240

November 18, 2008, Single Stock

RIL - RIL continues on it downtrend. We now need to see if RIL will hold above the previous low of 930.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1000, 930
Resistances: 1169, 1204

Infy - Infy came close to its support of 1160, but did not break it. We will look to see if Infy will break 1160 today or will bounce back from this level.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1160, 1040
Resistances: 1249, 1355

November 17, 2008, Nifty

US closed down on Friday. We expect the Nifty will have a flat or touch down opening. The next support is at 2753, which held on Friday.
Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2753, 2685
Resistances: 2923, 3240

November 17, 2008, Single Stock

RIL - RIL broke the support of 1151 on Wednesday. We now need to see if RIL will hold above the previous low of 930.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1000, 930
Resistances: 1262,1375

Infy - Infy broke its support at 1202. We now have a lower low. We will have wait for the next few trading sessions to determine which way infy will move. Things still look positive on the weekly charts. The next important support is 1060.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1160, 1040
Resistances: 1257, 1355

November 14, 2008, Nifty

Nifty fell sharply again on wednesday. Asia is up this morning so we expect the Nifty will be flat. 2860 was broken on wednesday. The next support is at 2753.
Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2753, 2685
Resistances: 2923, 3240

November 14, 2008, Single Stock

RIL - RIL broke the support of 1151 on Wednesday. We now need to see if RIL will hold above the previous low of 930.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1000, 930
Resistances: 1234,1375

Infy - Infy came close but did not break the stop loss of 1202. We continue to watch closely to see if Infy can hold above the low or if the stop loss is hit.
Trading Strategy: Stay long with stop loss at 1202
Supports: 1202-1200, 1160
Resistances: 1279, 1355

November 12, 2008, Nifty

Nifty fell sharply yesterday. Asia is flat this morning so we expect the Nifty will be flat. 2860 is a strong support. Let us see if that holds.
Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2860, 2753
Resistances: 2988, 3240

November 12, 2008, Single Stock

RIL - RIL closed below 1283. We now need to see if RIL will hold above the previous low of 1151.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1150, 930
Resistances: 1234,1375

Infy - We are now close to our stop loss. We now need to see if Infy can hold above the low or if the stop loss is hit.
Trading Strategy: Stay long with stop loss at 1202
Supports: 1202-1200, 1160
Resistances: 1355, 1400

November 11, 2008, Nifty

Sorry for missing yesterday. We had some infra issues.
Nifty rallied smartly yesterday. Asia is down this morning so we expect the Nifty will open down. 2860 is a strong support. Let us see if that holds.
Trading strategy: Play for supports/resistances breaks or bounces
Supports: 3002, 2860
Resistances: 3240, 3648

November 11, 2008, Single Stock

Sorry for missing yesterday. We had some infra issues.
RIL - The reversal candle on Friday and the strong move up yesterday indicates that RIL is ready for an uptrend. RIL needs to close above 1283 for that the uptrend to start.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1283, 1150
Resistances: 1375, 1668

Infy - Infy has made a higher low and we will move out stop loss there. We now need to see if Infy can hold above the low and make a new high.
Trading Strategy: Stay long with stop loss at 1202
Supports: 1306, 1202-1200
Resistances: 1400 , 1450

November 07, 2008, Nifty

Nifty was highly volatile yesterday. Asia is down this morning so we expect the Nifty will open down. We will now watch if the Nifty will be able to find a bottom around the next supports.
Trading strategy: Play for supports/resistances breaks or bounces
Supports:2753, 2488
Resistances: 3018, 3050

November 07, 2008, Single Stock

RIL - RIL continued its fall yesterday. According to retracements 1065 is the last support before the previous low of 930. We now need to watch if RIL will hold above its previous low or if it will break it.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1065, 930
Resistances: 1360-84, 1668

Infy - Infy was down yesterday, but still outperformed the market as a whole. If Infy can move up today that will mean that yesterday's low of 1230 will be the the new pivot. Also watch closely today as we are close to out stop loss of 1160.
Trading Strategy: Stay long with stop loss at 1160
Supports: 1160, 1040
Resistances: 1303, 1450

November 06, 2008, Nifty

Nifty was unable to clear 3254 and fell sharply from its high of the day. Asia is down this morning so we expect the Nifty will open down. 3017 was a strong support which Nifty broke yesterday. We will now watch if the Nifty will be able to find a bottom around the next supports.
Trading strategy: Play for supports/resistances breaks or bounces
Supports:2753, 2488
Resistances: 3017, 3074

November 06, 2008, Single Stock

RIL - As we predicted yesterday, RIL fell 12%. We now need to watch if RIL will hold above its previous low or if it will break it. The previous low was 930.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1217, 930
Resistances: 1360-84, 1668

Infy - Infy was flat in a falling market yesterday. Infy did not go below the low of Tuesday. If Infy can move up today that will mean that Tuesday's low of 1285 will be the the new pivot.
Trading Strategy: Stay long with stop loss at 1160
Supports: 1269, 1160
Resistances: 1336-41, 1450

November 05, 2008, Nifty

Yesterday, Nifty opened gap down but recovered to close the day strong. Asia is up this morning so we expect the Nifty will open up. The Nifty has a good chance to take out 3254 today. If it does then we could see the rally consolidate, then gain momentum and go all the way to 3800.
Trading strategy: Play for supports/resistances breaks or bounces
Supports:3017, 2871
Resistances: 3254, 3519

November 05, 2008, Single Stock

RIL - Two consecutive dojis in RIL! The stock is winding up for something big. We will watch closely to see if it will be on the upside or downside.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1368-80, 1293
Resistances: 1493, 1668

Infy - Infy fell sharply in yesterday's trading. It is now just below its 5-EMA. Infy needs to find a higher low to strengthen its uptrend. The previous low was 1160.
Trading Strategy: Stay long with stop loss at 1160
Supports: 1269, 1160
Resistances: 1336-41, 1450

November 04, 2008, Nifty

Yesterday was another smart rally for the Nifty. Asia is a touch down this morning so we expect the Nifty will open flat. If the current rally is able to sustain above 3254, then we could see the rally gain momentum and go all the way to 3800.
Trading strategy: Play for supports/resistances breaks or bounces
Supports:3017, 2871
Resistances: 3254, 3519

November 04, 2008, Single Stock

RIL - On Monday RIL continued its up move. It also broke the previous high of 1425. We need to see if the up move will strengthen or RIL will pull back.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1390, 1293
Resistances: 1668, 1792

Infy - Infy continued its up move on Monday, but was not able to significantly move above the previous high. For the trend to be strengthened Infy must now establish a higher low.
Trading Strategy: Stay long with stop loss at 1160
Supports: 1339-42, 1160
Resistances: 1450, 1660

November 3, 2008, Single Stock

Nifty rallied smartly on Friday. Asia is up this morning so we expect the Nifty will open gap up. If the current rally is able to sustain above 3254, then we could see the rally gain momentum and go all the way to 3800.
Trading strategy: Play for supports/resistances breaks or bounces
Supports:2698, 2488-2500
Resistances: 3017, 3254

November 03, 2008, Single Stock

RIL - On Friday RIL continued its up move. However it was unable to break the previous high at 1425. For sustaining this up move and becoming an uptrend RIL has to break 1425.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1281, 1202
Resistances: 1407-1425, 1668

Infy - Infy continued its up move on Friday. Infy also broke the previous high at 1412. This indicates that Infy is in an uptrend.
Trading Strategy: Stay long with stop loss at 1160
Supports: 1318-1339, 1160
Resistances: 1440-1450, 1660