Wednesday, May 6, 2009

May 6, 2009, Single Stock

RIL - RIL made a a doji candle yesterday. This shows indecision. We will wait for confirmation before taking a short position.
Trading Strategy: Stay short with a stop loss at 1807.
Supports: 1731, 1691
Resistances: 1895, 2110

Infy - Infy made an inside day yesterday; A classic trend reversal sign. We will go short with strict stop losses.
Trading Strategy: Go short with a stop loss at 1636
Supports: 1535, 1418
Resistances: 1636, 1660

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