February 2, 2009, Single Stock

Apologies - We apologize for not posting on Thursday and Friday due to infrastructure issues. These should be sorted out by the end of this week and we hope to come back to more regular posting.

RIL - Friday was a engulfing candle, indicating a reversal in the uptrend. RIL also failed to break its previous high of 1335.
Trading Strategy: Go short with a stop loss at 1335
Supports: 1262, 1107
Resistances: 1335, 1390

Infy - Infy made a lower low on Friday and we will book our profits. We will wait to see if this is a pause in the uptrend or a trend reversal.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1283-1287, 1191
Resistances: 1319, 1447