December 31, 2008, Nifty

Nifty clearly broke its downtrend and is setup for an uptrend. We will follow the uptrend with strict stop losses. Asia is up this morning. Nifty could open a touch up.

Trading strategy: Go long with stop loss at 2899
Supports: 2899-2919, 2812
Resistances: 3110, 3240

December 31, 2008, Single Stock

RIL - Yesterday RIL broke its resistance zone between 1230 and 1240. However volumes were very low. It looks like RIL is beginning an uptrend, which we will follow with strict stop losses.
Trading Strategy: Go long with stop loss at 1228
Supports: 1228-1240, 1188
Resistances: 1275, 1407

Infy - Infy made a higher high and higher low yesterday. However it is still below the 5-EMA. We will watch to see if infy is able to break the 5-EMA at 1135.
Trading Strategy: Play for resistance/support breaks/bounces.
Supports: 1065-1085, 1040
Resistances: 1135, 1222

December 30, 2008, Nifty

Nifty continued its down trend yesterday, however it bounce back sharply from the support at 2812. Asia is up this morning. Nifty could open a touch up. We will look to book profits on our short today.

Trading strategy: Move stop loss to 2931. Look to book profits.
Supports: 2812, 2714
Resistances: 2916-2931, 3110

December 30, 2008, Single Stock

RIL - RIL moved up sharply yesterday. However it still made a lower high and a lower low. RIL is not yet in an uptrend.
Trading Strategy: Play for resistance/support breaks/bounces.
Supports: 1230-1240, 1188
Resistances: 1275, 1407

Infy - Yesterday was a doji for Infy, indicating a possible trend reversal.
Trading Strategy: Play for resistance/support breaks/bounces.
Supports: 1065-1085, 1040
Resistances: 1140, 1222

December 29, 2008, Nifty

Nifty continued its down trend. We move our stop loss and follow the down trend. Asian markets are down today. Nifty could open a touch down.

Trading strategy: Stay short with a stop loss at 2960.
Supports: 2812, 2714
Resistances: 2872, 2960

December 29, 2008, Single Stock

RIL - RIL arrested its downtrend on Friday. Friday was also an engulfing candle indicating a possible trend reversal. We hit our stop loss on Friday and booked our profits.
Trading Strategy: Play for resistance/support breaks/bounces.
Supports: 1107, 1050
Resistances: 1250, 1407

Infy - Infy fell sharply on Friday. We will not watch to see where Infy will take support.
Trading Strategy: Play for resistance/support breaks/bounces.
Supports: 1077-1085, 1040
Resistances: 1152, 1222

December 26, 2008, Nifty

Nifty continued its down trend. We move our stop loss and follow the down trend. Asian markets are up today. Nifty could open a touch up.

Trading strategy: Stay short with a stop loss at 2968.
Supports: 2873, 2812
Resistances: 2968, 3040

December 26, 2008, Single Stock

RIL - RIL continued its downtrend on Wednesday. We will follow the downtrend to see where RIL can find a support to bounce back from.
Trading Strategy: Stay short and move stop loss to 1257.
Supports: 1218, 1107
Resistances: 1285, 1377

Infy - Infy made large moves yesterday but closed near its open, to form a doji. We will wait and watch for a clear signal.
Trading Strategy: Play for resistance/support breaks/bounces.
Supports: 1172-75, 1085
Resistances: 1206, 1321

December 24, 2008, Nifty

Nifty has started a down trend. We move our stop loss and follow the down trend. Asian markets are down today. Nifty could open down.

Trading strategy: Stay short with a stop loss at 3040.
Supports: 3033, 2922
Resistances: 3040, 3110

December 24, 2008, Single Stock

RIL - RIL fell sharply yesterday. We will now see where RIL can find a support to bounce back from.
Trading Strategy: Stay short and move stop loss to 1285.
Supports: 1260, 1107
Resistances: 1281, 1377

Infy - Infy hit our stop loss yesterday and we booked profits. We will now look to see where Infy can find a support to bounce back from.
Trading Strategy: Play for resistance/support breaks/bounces.
Supports: 1172, 1085
Resistances: 1206, 1321

December 23, 2008, Nifty

Nifty has clearly broken its uptrend. Asian markets are down today. Nifty could open down.
Trading strategy: Go short with a stop loss at 3110.
Supports: 3033, 2922
Resistances: 3110, 3240

December 23, 2008, Single Stock

RIL - Yesterday was a clear break in the uptrend. We will now see where RIL can find a support to bounce back from.
Trading Strategy: Go short with stop loss at 1377
Supports: 1268, 1107
Resistances: 1377 ,1505
Infy - On Monday, Infy continued its up trend with a higher high and higher low. We move our stop loss up and follow the up-trend.
Trading Strategy: Stay long with strict stop loss. We move up the stop loss to Monday's low of 1166.
Supports: 1166, 1085
Resistances: 1206, 1321

December 22, 2008, Nifty

Nifty moved up sharply on Friday. Asian markets are up today. Nifty could open up. If Nifty is able to break the strong resistance at 3148, it will be a medium term positive.
Trading strategy: If Nifty closes below 3034, go short with stop loss at 3076.
Supports: 3034, 2812
Resistances: 3148, 3240

December 22, 2008, Single Stock

RIL - Friday RIL made a higher high and higher low. However it was also a doji candle. We will look for further price action before taking a position.
Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1283, 1107
Resistances: 1505, 1668

Infy - On Friday, Infy continued its up trend with a higher high and higher low. We move our stop loss up and follow the up-trend.
Trading Strategy: Stay long with strict stop loss. We move up the stop loss to Friday's low of 1149.
Supports: 1149, 1085
Resistances: 1206, 1321

December 19, 2008, Nifty

We hit our stop loss yesterday. Nifty rallied smartly. However it was an engulfing candle, which indicates a trend reversal. We are looking for a sharp move on the down side today.
Trading strategy: If Nifty closes below 3010, go short with stop loss at 3076.
Supports: 3010, 2812
Resistances: 3076, 3148

December 19, 2008, Single Stock

RIL - As expected, RIL ended its uptrend yesterday. We now look to see where RIL will take support. 1283 looks like a strong support.

Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1283,1107
Resistances: 1505, 1668

Infy - Yesterday Infy made a strong up-move, with a higher high and higher low. We move our stop loss up and follow the up-trend.
Trading Strategy: Stay long with strict stop loss. We move up the stop loss to yesterday's low of 1145.
Supports: 1145, 1085
Resistances: 1206, 1321

December 18, 2008, Nifty

Nifty went below its 5-SMA. It also made a lower low. The rally is over. We now look to see where the Nifty will find support and from a base for its next rally.

Trading strategy: Go short with stop loss at 2975
Supports: 2917, 2856
Resistances: 2975, 3076

December 18, 2008, Single Stock

RIL - RIL continued its uptrend yesterday. However it closed below Tuesday's close, indicating that the trend might fizzle out today.
Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1329, 1283
Resistances: 1505, 1668

Infy - Yesterday Infy made a strong up-move, with a higher high and higher low. However yesterday was also a doji candle, indicating indecision. Keep stop losses strict.
Trading Strategy: Stay long with strict stop loss. We move up the stop loss to yesterday's low of 1123.
Supports: 1123-1130, 1085
Resistances: 1127, 1206

December 17, 2008, Nifty

A strong performance by the Nifty means that the rally continues. Asia is up this morning. We look to see if Nifty can continue this rally or if the rally will fizzle out today. If the Nifty can break out above 3148 in this rally it will a strong positive for the medium term (weeks)

Trading strategy: If Nifty closes below 2917, go short.
Supports: 2966, 2917
Resistances: 3148, 3240

December 17, 2008, Single Stock

RIL - RIL continued its uptrend on Tuesday. We made a mistake and took profits too early. RIL went above its 50-SMA on Tuesday. This is another strong positive signal. We are still looking to see if this uptrend is able to break out of 1505.
Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1325, 1283
Resistances: 1505, 1668

Infy - Infy continued to show signs of breaking the downtrend. However, Infy failed to establish a clear uptrend. Keep stop losses strict.
Trading Strategy: Stay long with strict stop loss at 1085.
Supports: 1085, 1040
Resistances: 1127, 1206

December 16, 2008, Nifty

Asian markets are a touch down. Nifty could open a bit down. For the last two days, the mid-cap indices have outperformed the Nifty. This is a negative indication. We look to see if Nifty can continue this rally or if the rally will fizzle out today.

Trading strategy: If Nifty closes below 2917, go short.
Supports: 2938, 2917
Resistances: 3148, 3240

December 16, 2008, Single Stock

RIL - RIL continued its uptrend on Monday. However Monday was a doji, indicating a possible pause or reversal in the uptrend. If you have been following the uptrend, take profits now.
Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1283, 1100
Resistances: 1505, 1668

Infy - Yesterday, Infy did not break the support of 1040. It also made a higher high and higher low. Infy is showing signs of breaking the downtrend.
Trading Strategy: Go long with stop loss at 1077
Supports: 1077, 1040
Resistances: 1128, 1206

December 15, 2008, Nifty

Friday was a doji, as well as a lower high and lower low. Asia is up this morning so Nifty should also be up. We will look to see if the rally fizzles out today.

Trading strategy: Book profits in the long positions. If Nifty closes below 2888 go short. Supports: 2888, 2570
Resistances: 3148, 3240

December 15, 2008, Single Stock

RIL - On Friday RIL continued its uptrend. We will look to see if this uptrend lasts in the medium term; For that RIL must stay above the previous pivot of 1103
Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1228, 1100
Resistances: 1331, 1505

Infy - Friday was a lower high and a lower low in Infy. Infy is not clearly on a down trend. It has also broken the support at 1090. The next support is at 1077.
Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1077, 1040
Resistances: 1206, 1299

December 11, 2008, Nifty

Nifty continued on its rally yesterday. We move our stop loss up to yesterday's low. Asia is down, so we could open a touch down.
Trading strategy: Stay long. Keep stop loss at yesterday's low of 2785.
Supports: 2785, 2570
Resistances: 3148, 3240

December 11, 2008, Single Stock

RIL - Yesterday RIL surged sharply indicating a break-out. The 5-SMA has also gone above the 20-SMA, which is another strong indicator. However since yesterday was a sharp move, we will wait for today's trading session to take a position.
Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1136-1157, 1100
Resistances: 1362, 1505

Infy - Yesterday was a higher high and a higher low in Infy. Following the doji of Monday, this is a strong indication of the beginning of an uptrend.
Trading Strategy: Go long with stop loss at 1138
Supports: 1123-1138, 1090
Resistances: 1206, 1299

December 10, 2008, Nifty

Nifty continued on its rally on Monday, though there was a sharp pull-back later in the day. Nifty still made a higher high and lower low. We move our stop loss up to yesterday's low. Asia is a touch up, so Nifty could open up.
Trading strategy: Stay long. Keep stop loss at Monday's low of 2714.
Supports: 2736-2757, 2570
Resistances: 2861, 3280

December 10, 2008, Single Stock

RIL - On Monday, RIL failed to break the previous high of 1182. The rally is now in question. We move the stop loss to Yesterday's low of 1107
Trading Strategy: Book profits today.
Supports: 1100-1107, 1050
Resistances: 1182, 1208

Infy - Monday was a doji in Infy. Indicating uncertainty. We will look to see how infy moves over the next trading session.
Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1120, 1090
Resistances: 1168, 1223

December 8, 2008, Nifty

Nifty made a higher high and lower low yesterday. We move our stop loss up to Friday's low.
Trading strategy: Stay long. Keep stop loss at Friday's low of 2701.
Supports: 2701, 2570
Resistances: 2777, 2832

December 8, 2008, Single Stock

RIL - RIL is still in a rally in spite of the fall on Friday. We move the stop loss to Friday's close of 1103
Trading Strategy: Stay long. Follow the rally with a trailing stop. If RIL goes below 1105, close position.
Supports: 1105, 1050
Resistances: 1208, 1303

Infy - Infy did not rally and we hit our stop loss. We will wait for the next clear signal before taking another position
Trading Strategy: Play for supports/resistances breaks or bounces
Supports: 1123, 1090
Resistances: 1223, 1299

December 5, 2008, Nifty

In yesterday's sharp upmove, Nifty went above its 5-SMA. The next target is the previous high of 2832. Asia is flat this morning, so we expect a flat opening.

Trading strategy: If you went long yesterday, keep stop loss at yesterday's low of 2646.
Supports: 2570, 2502
Resistances: 2777, 2832

December 5, 2008, Single Stock

Sorry for missing yesterday's post.
RIL - RIL broke 5-day and 20-Day SMA in sharp rally yesterday. The near term rally which we predicted has happened. We will follow the rally with a trailing stop.
Trading Strategy: Stay long. Follow the rally with a trailing stop. If RIL goes below 1050, close position.
Supports: 1050, 1025
Resistances: 1208, 1303

Infy - Yesterday was an inside day for infy. This is a reversal signal. We could now see a near term rally in infy.
Trading Strategy: Go long with stop loss at 1140
Supports: 1140, 1090
Resistances: 1223, 1299

December 3, 2008, Nifty

Nifty rallied in the second half of the day to make a nice hammer-doji. Asia is up this morning, so we expect Nifty will open up. If Nifty is able to hold above 2712 we could see a near term rally.

Trading strategy: If Nifty closes above 2712, go long
Supports: 2570, 2502
Resistances: 2712, 2783

December 3, 2008, Single Stock

RIL - RIL broke the previous low of 1032, but only just. The close near a support combined with a doji hammer candle indicates a near term rally for RIL.
Trading Strategy: If RIL opens up, Go long with stop loss at 1025
Supports: 1025, 930
Resistances: 1114, 1180

Infy - There is still no clear trend we can find in Infy. We will wait till we see a clear trend or a signal.
Trading Strategy: Play for supports/resistances breaks or bounces, with strict stop losses.
Supports: 1120, 1090
Resistances: 1234, 1299

December 2, 2008, Nifty

We hit our stop loss yesterday. 2690, we ended up with about 4% gain. Dow crashed overnight and we expect Nifty to open gap down today. In the recent rally Nifty made a lower high that the previous high of 3148. We now look to see if it can hold above 2630-50, if not at least above 2502.

Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2630-50, 2502
Resistances: 2711, 2783

December 2, 2008, Single Stock

RIL - As predicted, RIL could not break out of 1220 and fell. However RIL was resilient in yesterday's market move. RIL seems to be finding some resistance around 1090. Let us see if RIL can hold above this. Else we will bee looking at the previous low of 1032 for support.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1090, 1032
Resistances: 1180, 1200-1221

Infy - Infy made a higher high and higher low. However it was a doji. We will wait for a clear signal before taking a position.
Trading Strategy: Play for supports/resistances breaks or bounces, with strict stop losses.
Supports: 1200, 1040
Resistances: 1299, 1355

December 1, 2008, Nifty

Nifty continues on it uptrend after a short break. We still stay long, but move our stop loss up to Friday's low. Asia is a touch down, so Nifty might open down.

Trading strategy: Stay long with stop loss at 2690
Supports: 2702, 2633-2654
Resistances: 2825, 2871

December 1, 2008, Single Stock

RIL - RIL made a higher high and a higher low on Friday. The uptrend is in place but not yet confirmed. There is a strong resistance around 1221. RIL will have to break out of this to continue the uptrend.
Trading Strategy: Play for supports/resistances breaks or bounces.
Supports: 1032, 930
Resistances: 1188-1203, 1221

Infy - Infy has gone above its 5 and 20-EMA. the sharp move we predicted on Friday was in the positive direction. We are looking to see if that was a single day effect or if Infy can start a rally from here.
Trading Strategy: Play for supports/resistances breaks or bounces, with strict stop losses.
Supports: 1237, 1205
Resistances: 1355, 1447