May 12, 2009, Single Stock

RIL - RIL still seems to be range-bound. However it made a lower low and a lower high yesterday, indicating a high possibility of a break-out on the downside. We will maintain our short but keep stop losses strict to cap losses in case break out is on the upside.
Trading Strategy:Stay short with a stop loss at 1938
Supports: 1850, 1731
Resistances: 1928, 1938

Infy - Infy continued on its down trend yesterday. However yesterday was a doji candle, indicating a possible end to the downtrend. We will stay short but keep stop losses strict and look to book profits.
Trading Strategy: Stay short. Move stop loss to 1539
Supports: 1465, 1418
Resistances: 1539, 1636