May 14, 2009, Single Stock

RIL - RIL made a hammer candle, indicating a trend reversal. We have been seeing trend reversal signs for the past few days and expect a strong trend to show itself in the next few sessions. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1843, 1731
Resistances: 1938, 1975

Infy - Infy failed to reach its previous high of 1636 and is now on a medium-term downtrend. We will go short with strict stop losses.
Trading Strategy: Short with stop loss at 1636
Supports: 1492, 1418
Resistances: 1605, 1636