April 29, 2009, Nifty

Nifty made a lower low and a lower high. However today is expiry and we will wait for a better signal before initiating a short position. Asia up this morning so Nifty could open a touch up.
Trading Strategy: Play for resistances/supports breaks or bounces.
Supports: 3297, 3149
Resistances: 3517 , 3648

April 29, 2009, Single Stock

RIL - RIL made a lower high and a lower low. We initiated a short yesterday. We will stay short with a stop loss at 1807.
Trading Strategy: Stay short with a stop loss at 1807.
Supports: 1761, 1685
Resistances: 1807, 1840

Infy - Infy made a doji candle yesterday. Infy did not break the resistance at 1469. Market is still undecided on Infy. We will wait for a conclusive signal before initiating a position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1356, 1266
Resistances: 1469 , 1660

April 28, 2009, Nifty

Nifty broke the previous high of 3511 yesterday. However it was not convincing as Nifty failed to hold above 3511 for very long. We will look to see if Nifty is able to break yesterday's high of 3517 today. Asia is up this morning so Nifty should open a touch up.
Trading Strategy: Play for resistances/supports breaks or bounces.
Supports: 3297, 3149
Resistances: 3517 , 3648

April 28, 2009, Single Stock

RIL - RIL made a higher high and a higher low. However it was a doji candle, indicating a trend reversal. We will look to initiate a short today if RIL goes below 1761.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1761, 1685
Resistances: 1840, 2110

Infy - Infy made a hammer candle yesterday. Market is still undecided on Infy. We will wait for a conclusive signal before initiating a position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1356, 1266
Resistances: 1469 , 1660

April 24, 2009, Nifty

Nifty made a higher high and a higher low. Asia is down this morning, so Nifty could open gap down. We will stay on the sidelines till Nifty breaks the previous high of 3511.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 3297, 3149
Resistances: 3511 , 3648

April 27, 2009, Single Stock

RIL - RIL made a higher high and a higher low. We will wait for RIL to break the previous high of 1840 before taking a long position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1685, 1648
Resistances: 1840, 2110

Infy - Infy made an inside day yesterday. Infy is finding it difficult to break the resistance at 1469. This indicates further indecision in Infy. We will wait and watch before taking a position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1356, 1266
Resistances: 1469 , 1660

April 24, 2009, Nifty

Nifty made a higher high and a higher low. Asia is mixed this morning, so Nifty could open flat or a touch up. We initiated a short last Friday and booked our profits yesterday. We will stay on the sidelines till another clear trend emerges.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 3297, 3149
Resistances: 3511 , 3648

April 24, 2009, Single Stock

RIL - RIL made a higher high and a higher low. Indicating that the down-move is over. We hit our stop loss and booked profits. We will look to see if this is a pause in the down move, or if is the beginning of an up-move
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1685, 1648
Resistances: 1840, 2110

Infy - Infy made a sharp move up yesterday and we hit our stop loss. We will wait and watch before taking a position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1356, 1266
Resistances: 1469 , 1660

April 23, 2009, Nifty

Nifty made a lower high and a lower low. Asia is mixed this morning, so Nifty could open flat or a touch down. We initiated a short on Friday. We will stay short today.
Trading Strategy: Stay short; move stop loss to 3401
Supports: 3149, 2962
Resistances: 3401, 3511

April 23, 2009, Single Stock

RIL - RIL made a lower high but not a lower low. We will stay short, but look to book profits.
Trading Strategy: Stay short; Move stop loss to 1733
Supports: 1648, 1450
Resistances: 1734, 1840

Infy - Infy made an engulfing candle yesterday. We will stay short but keep stop losses strict.
Trading Strategy: Stay short with stop loss at 1421.
Supports: 1266, 1152
Resistances: 1421, 1469

April 22, 2009, Nifty

Nifty made a lower high and a lower low. Asia is mixed this morning, so Nifty could open flat or a touch up. We initiated a short on Friday. We will stay short today.
Trading Strategy: Stay short; move stop loss to 3415
Supports: 3149, 2962
Resistances: 3415, 3511

April 22, 2009, Single Stock

RIL - RIL made a lower high and a lower low. We will stay short, but keep stop losses strict.
Trading Strategy: Stay short; Move stop loss to 1734
Supports: 1648, 1450
Resistances: 1734, 1840

Infy - Infy moved down yesterday, and made a lower low and a lower high. Infy is on a downtrend. Go short with a stop loss at 1421.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1266, 1152
Resistances: 1421, 1469

April 21, 2009, Nifty

Nifty made a lower high and a lower low. Asia is down this morning, so Nifty could open a touch down. We initiated a short on Friday. We will stay short today.
Trading Strategy: Stay short; move stop loss to 3441
Supports: 3149, 2962
Resistances: 3441, 3511

April 21, 2009, Single Stock

RIL - RIL made a lower high and a lower low. We will stay short, but keep stop losses strict.
Trading Strategy: Stay short; Move stop loss to 1755
Supports: 1648, 1450
Resistances: 1755, 1840

Infy - Yesterday was an inside day in Infy. We will expect a sharp move today. There is no clear trend in Infy. We will wait and watch before taking a position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1266, 1152
Resistances: 1421, 1469

April 18, 2009, Nifty

Nifty made a hammer candle on Friday; Another indecisive sign. Asia is down this morning, so Nifty could open a touch down. We initiated a short on Friday. We will stay short today.
Trading Strategy: Stay short with stop loss at 3490
Supports: 3149, 2962
Resistances: 3490, 3648

April 18, 2009, Single Stock

RIL - RIL made a lower high and a lower low. We will stay short, but keep stop losses strict.
Trading Strategy: Stay short; Move stop loss to 1781
Supports: 1648, 1450
Resistances: 1781, 1840

Infy - We hit our stop loss and booked profits. There is no clear trend in Infy. We will wait and watch before taking a position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1266, 1152
Resistances: 1421, 1469

April 17, 2009, Nifty

Nifty made another big candle with a higher high and a higher low. Asia is up this morning, so Nifty could open a touch up. Nifty us below its 5 day SMA.
Trading Strategy: Play for resistance/support breaks or bounces. If Nifty should clos below 3430 today, then short
Supports: 3149, 2962
Resistances: 3511, 3648

April 17, 2009, Single Stock

RIL - RIL made a lower high and a lower low. This could be the beginning of a downtrend. We will short with a strict stop loss.
Trading Strategy: Go short with a stop loss of 1840
Supports: 1648, 1450
Resistances: 1840, 2110

Infy - Yesterday was an engulfing candle for Infy. Market is looking indecisive. We will move our stop loss down but watch the stock closely.
Trading Strategy: Stay short; Move stop loss to 1400
Supports: 1266, 1152
Resistances: 1400, 1469

April 16, 2009, Nifty

Nifty made another big candle with a higher high but not a higher low. Asia is up this morning, so Nifty could open a touch up. We are looking for a clear signal to initiate a short.
Strategy:
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 3149, 2962
Resistances: 3498, 3648

April 16, 2009, Single Stock

RIL - RIL continued on its uptrend. We will wait an watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1648, 1450
Resistances: 1840, 2110

Infy - Yesterday was a sharp down move for Infy. This looks like the beginning of a downtrend. We will short with a strict stop loss.
Trading Strategy: Go short with a stop loss at 1469
Supports: 1266, 1152
Resistances: 1469 , 1660

April 14, 2009, Nifty

Nifty made a higher high and a higher low. However candles from the past few session indicate indecision in the market. Asia is down this morning, so Nifty could open a touch down.
Supports: 3200, 3149
Resistances: 3418, 3648

April 14, 2009, Single Stock

RIL - RIL made a higher high and higher low yesterday. It seems to be on an uptrend. We will wait an watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1648, 1450
Resistances: 1789, 2110

Infy - Yesterday was was an engulfing candle for Infy. However no clear trend is observable. We will wait and watch before taking a position
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1266, 1152
Resistances: 1469 , 1660

April 13, 2009, Nifty

Nifty made a higher high and a higher low. However it was a doji candle, indicating indecision in the market. It looks like the end of the bear market rally. We will wait for confirmation before taking a new position.
Supports: 3149, 2962
Resistances: 3401, 3648

April 13, 2009, Single Stock

RIL - RIL made a higher high and higher low on Thursday. We will wait an watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1648, 1450
Resistances: 1768, 2110

Infy - We hit our stop losses on Thursday. However it was a hammer candle indicating a trend reversal. We will wait and watch before taking a position
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1266, 1152
Resistances: 1437, 1469

April 09, 2009, Nifty

Nifty fell in early trading yesterday, but recovered to close the day well in the green. However it was a hammer candle indicating a possible trend reversal. We hit our stop loss and booked profits. We will wait and watch before taking a new positions.
Supports: 3149, 2962
Resistances: 3357, 3648

April 09, 2009, Single Stock

RIL - RIL made a higher high but also a lower low. We hit our stop loss and booked profits. We will wait an watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1648, 1450
Resistances: 1742, 2110

Infy - Infy made a lower high and a lower low yesterday. We are now looking for a downtrend in Infy. However keep stop losses strict.
Trading Strategy: Go short with a stop loss at 1469.
Supports: 1266, 1152
Resistances: 1435, 1469

April 08, 2009, Nifty

Nifty made a sharp up-move. It was a higher high and a higher low, indicating an uptrend. Asian markets are down this morning. Nifty should open a touch down.
Trading Strategy: Stay long, move stop loss to 3211
Supports: 3211, 2772
Resistances: 3304, 3648

April 08, 2009, Single Stock

RIL - RIL made a higher high and a higher low and continued on its up trend. We will follow RIL.
Trading Strategy: Stay long. Move stop loss to 1646
Supports: 1646, 1450
Resistances: 1742, 2110

Infy - Infy made an engulfing candle on Monday, indicating a possible trend reversal. Our stop loss at 1383 was hit and we booked profits. We will wait for the next trend to set in before taking a position
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1383, 1257
Resistances: 1266, 1152

April 06, 2009, Nifty

Nifty made a sharp up-move on Thursday. It was a higher high and a higher low, indicating an uptrend. However this seems to be the third wave of the bear market rally so we will keep stop losses strict. Asian markets are mixed up this morning. Nifty should open a touch up.
Trading Strategy: Go long with a stop loss of 2966
Supports: 2962-2966, 2772
Resistances: 3248, 3648

April 06, 2009, Single Stock

RIL - RIL broke the resistance at 1610. RIL is now looking good for an up move.
Trading Strategy: Go long with stop loss of 1497
Supports: 1495, 1450
Resistances: 1668, 2110

Infy - Infy continued its uptrend on Thursday, with a higher high and a higher low.
Trading Strategy: Stay long. Move stop loss to 1383.
Supports: 1383, 1257
Resistances: 1447, 1660

April 02, 2009, Nifty

There were no posts from 28th March to 1st April. Sorry for the inconvenience.

Nifty has not made any clear trends over the last few trading sessions. We will wait and watch before taking a position. Asian markets are up this morning. Nifty could open a touch up.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 2962-2966, 2772
Resistances: 3123 , 3147

April 02, 2009, Single Stock

There were no posts from 28th March to 1st April. Sorry for the inconvenience.

RIL - RIL made an engulfing candle yesterday, indicating a trend reversal. We will wait and watch for a confirmation signal before taking a position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1495, 1450
Resistances: 1594-1610, 1959

Infy - Infy looks like it is on an uptrend.
Trading Strategy: Go long with stop loss of 1266
Supports: 1266, 1257
Resistances: 1397, 1447