May 13, 2009, Single Stock

RIL - On first signs it looks like a break-out on the upside for RIL. However yesterday was an engulfing candle indicating a trend reversal. We hit our stop loss yesterday and closed our position. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1843, 1731
Resistances: 1938, 1971

Infy - As expected Infy rose sharply yesterday and we booked profits. We will now wait and watch for a few more trading sessions before taking a position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1492, 1418
Resistances: 1605, 1636