July 31, 2009, Nifty

Nifty made another hammer candle, but with a higher high and a higher low than the previous. This is 4 consecutive signals of indecision. We can now expect major moves over the next few session.
Trading Strategy: Stay short with a stop loss at 4600, but this is risky. If we see a strong move above 4600 we will close and switch to long. For a safer play, long straddle/strangle.
Supports: 442, 4380, 3919
Resistances: 4600, 4650, 4680

July 31, 2009, Single Stock

RIL - RIL made a lower high and a higher low. It was an inside day for RIL. This indicates a possible trend reversal. Stay short. Move stop loss down. Keep stop losses strict.
Trading Strategy: Stay short, move stop loss to 1938
Supports: 1871, 1717
Resistances: 1995, 2089, 2113

Infy - Infy made a higher high and a higher low. How ever our stop loss has not been hit and we will stay short.
Trading Strategy: Stay short with stop loss at 2045
Supports: 1944, 1893-95, 1802
Resistances: 2045, 2070

July 30, 2009, Nifty

Nifty made hammer candle. This indicates clear indecision in the market. However it was a break out on the down side. We will take a risky short position with a strict stop loss.
Trading Strategy: If you did not go short on Wednesday, go short with a stop loss at 4600
Supports: 4380, 3919
Resistances: 4600, 4650, 4680

July 30, 2009, Single Stock

RIL - RIL made a lower low and a lower high. Stay short. Move stop loss down.
Trading Strategy: Stay short with stop loss at 1960
Supports: 1900, 1717
Resistances: 1995, 2089, 2113

Infy - Infy made a lower high and a lower low. Go short with stop loss at the recent high.
Trading Strategy: Go short with stop loss at 2045
Supports: 1893-95, 1802, 1751
Resistances: 2045, 2070

July 29, 2009, Nifty

Nifty made another doji candle with the same trading range. This indicated clear indecision in the market. We hit our stop loss and booked profits. We will wait for a break out on either side before taking a position. We may have false break outs as options expiry is on Thursday.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4529, 4505
Resistances: 4600, 4650, 4680

July 29, 2009, Single Stock

RIL - RIL made a lower low and a lower high. Stay short.
Trading Strategy: Stay short with stop loss at 1995
Supports: 1900, 1717
Resistances: 1995, 2089, 2113

Infy - Infy made a lower high and a lower low. Close the long and wait and watch before taking another position.
Trading Strategy: Book profits on the long. Play for resistance/support breaks or bounces.
Supports: 1893-95, 1802, 1751
Resistances: 2045, 2070

July 28, 2009, Nifty

Nifty made a higher high and a higher low. However it was a doji candle so we will move stop losses up and keep our stop loss strict.
Trading Strategy: Stay long, move stop loss to 4597.
Supports: 4597, 4505
Resistances: 4650, 4680

July 28, 2009, Single Stock

RIL - Our patience paid off as RIL fell sharply on Monday. We will move our stop loss down.
Trading Strategy: Stay short, move stop loss to 1995
Supports: 1900, 1717
Resistances: 1995, 2089, 2113

Infy - Infy continued to move up and made a higher high and a higher low. We will follow the uptrend.
Trading Strategy: Stay long, move stop loss to 1895
Supports: 1893-95, 1802, 1751
Resistances: 2045, 2070

July 27, 2009, Nifty

Nifty made a higher high and a higher low. It also broke the resistance at 4558. We will stay long.
Trading Strategy: Stay long, move stop loss to 4505.
Supports: 4505, 4365-80
Resistances: 4650, 4680

July 27, 2009, Single Stock

RIL - RIL hit made a higher low, and just managed a higher low. We will stay short but be prepared to close and switch to long on the break of resistances.
Trading Strategy: Stay short with a stop loss at 2089
Supports: 2001, 1963, 1925
Resistances: 2089, 2113

Infy - Infy broke 1994. It also made a higher high and a higher low.
Trading Strategy: In you are not already long, go long with a stop loss at 1893
Supports: 1893, 1802, 1751
Resistances: 2030-40, 2070

July 24, 2009, Nifty

Nifty made a lower high but also a higher low. The Nifty is now in a range between 4380 and 4558. We will take a position on a break out on either side. The bias is on the positive side since 4510 was taken out yesterday. We will take a risk long position.
Trading Strategy: Go long with stop loss at 4380.
Supports: 4365-80, 4143
Resistances: 4532, 4680

July 24, 2009, Single Stock

RIL - RIL hit made a higher low, but not a higher high. We will stay short but keep stop losses strict.
Trading Strategy: Stay short with a stop loss at 2089
Supports: 1963-93, 1925, 1717
Resistances: 2089, 2113

Infy - Infy made a higher low but also a lower high. We will wait for Infy to fall below 1900 before going short, or we will wait for Infy to break 1994 before going long.
Trading Strategy: Wait and watch for a break of support/resistance before taking a short/long position.
Supports: 1900, 1802, 1751
Resistances: 1994, 2030-40, 2070

July 23, 2009, Nifty

Nifty made a higher high but also a higher low. The resistance at 4510 was broken, but Nifty was not able to hold above it. We hit our stop loss and booked profits.
Trading Strategy: Wait and watch before taking a position.
Supports: 4365-72, 4143
Resistances: 4509-10, 4680

July 23, 2009, Single Stock

RIL - RIL hit our stop loss and we booked profits. We will go short with a stop loss at the recent high.
Trading Strategy: Go short with a stop loss at 2089
Supports: 1969, 1925, 1717
Resistances: 2089, 2113

Infy - Nifty made a lower low but also a higher high. We will wait for Infy to fall below 1900 before going short.
Trading Strategy: Wait and watch for a break of support before taking a short position.
Supports: 1900, 1802, 1751
Resistances: 1994, 2030-40, 2070

July 22, 2009, Nifty

Nifty made a higher high and a higher low. However the resistance at 4510 was too strong to break. We will see if Nifty can make another attempt on 4510 in the next few sessions, or if it well settle into a down trend. We will stay long but move our stop loss up.
Trading Strategy: Stay long, move stop loss to 4437
Supports: 4437, 4372, 3919
Resistances: 4509-10, 4680

July 22, 2009, Single Stock

RIL - RIL made a higher high and a higher low. We will move our stop loss up and stay long.
Trading Strategy: Stay long, move stop loss to 2007
Supports: 2007, 1925, 1717
Resistances: 2089, 2113

Infy - It was an inside day for Infy, indicating a possible reversal in the up trend.
Trading Strategy: Book profits in Infy. Wait and watch for a break of support before taking a short position. Keep stop loss at 1890
Supports: 1890, 1802, 1751
Resistances: 1994, 2030-40, 2070

July 21, 2009, Nifty

Nifty made a higher high and a higher low. It also broke the resistance at 4440. We will now look to see if Nifty can make a new high in the next few weeks, or if it will settle into a trading range. We will stay long but move our stop loss up.
Trading Strategy: Stay long, move stop loss to 4378
Supports: 4378, 3919, 3877
Resistances: 4509-10, 4680

July 21, 2009, Single Stock

RIL - RIL made a higher high and a higher low. We will stay long with the stop loss at recent low.
Trading Strategy: Stay long, with stop loss at 1925.
Supports: 1925, 1717, 1685
Resistances: 1968-80, 2113

Infy - Infy made a higher high and a higher low. Stay long. Move stop loss to 1870.
Trading Strategy: Stay long, with stop loss at 1870
Supports: 1870, 1802, 1751
Resistances: 1911, 2030-40, 2070

July 20, 2009, Nifty

Nifty made a higher high and a higher low. We will stay long but move our stop loss up.
Trading Strategy: Stay long, move stop loss to 4230
Supports: 4230, 3919, 3877
Resistances: 4440, 4480

July 20, 2009, Single Stock

RIL - RIL made a higher low but not a higher high. We will stay long but move our stop loss up. Keep stop losses strict.
Trading Strategy: Stay long, move stop loss to 1925.
Supports: 1925, 1717, 1685
Resistances: 1968-80, 2113

Infy - Infy made a higher high and a higher low. It was a break out on the upside. Stay long. Move stop loss to 1802.
Trading Strategy: Stay long, with stop loss at 1751
Supports: 1802, 1751
Resistances: 1911, 2070

July 17, 2009, Nifty

Nifty made a higher high and a higher low. However it was a hammer candle. We will stay long but keep stop losses strict.
Trading Strategy: Stay long, move stop loss to 4206
Supports: 3919, 3877
Resistances: 4212, 4480

July 17, 2009, Single Stock

RIL - RIL made a higher high and a higher low. We will stay long but move our stop loss up.
Trading Strategy: Stay long, move stop loss to 1869
Supports: 1869, 1717, 1685
Resistances: 1937, 1980, 2113

Infy -Infy made a lower high as well as a higher low. It was also a doji candle. This means we could have a break out on either side in the next few sessions. 1820-1751 is the trading range. Stay long. But be prepared to switch to short if support is broken.
Trading Strategy: Stay long, with stop loss at 1751
Supports: 1751, 1665, 1600
Resistances: 1820, 1840, 2070

July 16, 2009, Nifty

Nifty made a higher high and a higher low. We will stay long.
Trading Strategy: Stay long with a stop loss at 3919
Supports: 3919, 3877
Resistances: 4149, 4212, 4480

July 16, 2009, Single Stock

RIL - RIL made a higher high and a higher low. We will stay long with a stop loss at the recent low. Yesterday was a hammer candle, so we will move our stop loss up.
Trading Strategy: Stay long, move stop loss to 1807
Supports: 1807, 1717, 1685
Resistances: 1937, 1983

Infy -Infy made a higher high as well as a lower low. However Infy did not break our stop loss. Stay long.
Trading Strategy: Stay long, with stop loss at 1751
Supports: 1665, 1600
Resistances: 1840, 2070

July 15, 2009, Nifty

Nifty made a gap up opening and we hit our stop loss in the opening trade. We will go long.
Trading Strategy: Go long with a stop loss at 3919
Supports: 3919, 3877
Resistances: 4149, 4212, 4480

July 15, 2009, Single Stock

RIL - RIL hit our stop loss yesterday and we booked our profits. RIL now looks like it is on an up trend. We will go long with a stop loss at the recent low.
Trading Strategy: Go long with stop loss at 1717
Supports: 1717, 1685
Resistances: 1825, 1944, 1996

Infy -Infy made a higher high and a higher low. Stay long.
Trading Strategy: Stay long, but move stop loss to 1751
Supports: 1665, 1600
Resistances: 1840, 2070

July 14, 2009, Nifty

Nifty made a lower low and a lower high yesterday. We will go short. However yesterday was a hammer candle, so we will keep stop losses strict.
Trading Strategy: Go short with a stop loss at 4003
Supports: 3870, 3800
Resistances: 4149, 4298, 4480

July 14, 2009, Single Stock

RIL - RIL made a lower low and a lower high. However it was a doji candle yesterday, signalling a possible end to the down trend. We will stay short, but keep stop losses strict.
Trading Strategy: Stay short, move stop loss to 1769
Supports: 1717, 1685
Resistances: 1769, 2052, 2183

Infy -Infy made a higher high and a higher low. We will go long with stop loss at the recent low.
Trading Strategy: Go long with stop loss at 1665
Supports: 1665, 1600
Resistances: 1775, 1819

July 13, 2009, Nifty

Nifty hit our stop loss and we booked profits. However the bias is still on the downside. We will wait to take a short position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 3800, 3538
Resistances: 4149, 4298, 4480

July 13, 2009, Single Stock

RIL - RIL made a lower low and a lower high. We will stay short, but keep stop losses strict.
Trading Strategy: Stay short, with stop loss at 1890
Supports: 1731, 1685
Resistances: 1890, 2052, 2183

Infy -Infy hit our stop loss and we booked profits. We will wait and watch before taking a position. Infy made a lower low and a higher high on Friday, so we will wait for today's price action before taking a position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1665, 1600
Resistances: 1770, 1819

July 10, 2009, Nifty

Nifty made a doji, but it was still a lower high and a lower low. The next support is only at 3800 and then 3538. Stay short.
Trading Strategy: Stay short, move stop loss to 4115.
Supports: 3800, 3538
Resistances: 4298, 4480

July 10, 2009, Single Stock

RIL - RIL made an inside day. This could imply and end to the down trend. We will stay short, but keep stop losses strict.
Trading Strategy: Stay short, move stop loss to 1890
Supports: 1797, 1600
Resistances: 1890, 2052, 2183

Infy -Infy made a lower low and a lower high. Stay short. Today is results day for Infy so keep stop losses strict.
Trading Strategy: Stay short, move stop loss to 1738.
Supports: 1670, 1600
Resistances: 1819, 1911

July 9, 2009, Nifty

Nifty is now in a free-fall. The next support is only at 3800 and then 3538. Stay short. Moving averages also look bad for the Nifty.
Trading Strategy: Stay short, move stop loss to 4232.
Supports: 3800, 3538
Resistances: 4298, 4480

July 9, 2009, Single Stock

RIL - RIL made a lower low and a lower high yesterday. We will stay short.
Trading Strategy: Stay short, keep stop loss to 2052
Supports: 1797, 1600
Resistances: 2052, 2183, 2379

Infy -Infy did not bounce back after breaking its 20-EMA. The 20-EMA has been a strong support for Infy over the past 20 trading sessions. We could see a prolonged down move now.
Trading Strategy: Go short with stop loss at 1819
Supports: 1671-76, 1600
Resistances: 1819, 1911

July 8, 2009, Nifty

Yesterday was an inside day for the Nifty. It did not make a lower low or a higher high.
Trading Strategy: Stay short with a stop loss at 4298.
Supports: 4092, 3538
Resistances: 4298, 4480

July 8, 2009, Single Stock

RIL - RIL made a lower low and a lower high yesterday. We will stay short but move our stop loss down.
Trading Strategy: Stay short, move stop loss to 2052
Supports: 1834, 1600
Resistances: 2052, 2183, 2379

Infy - Infy broke our stop loss yesterday and we booked profits. We will now wait and watch before taking a position. Infy has broken its 20 day EMA. If it does not bounce back today, we could see a down move over the next few sessions.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1701, 1676
Resistances: 1844, 1911

July 7, 2009, Nifty

Yesterday was budget day and as expected markets were down. Nifty broke its support at 4143, but only just. The next support for the Nifty is at 4092.
Trading Strategy: If you are not already short, go short with a stop loss at 4298.
Supports: 4092, 3538
Resistances: 4298, 4480

July 7, 2009, Single Stock

RIL - Budget day was bad as we had predicted. Most support levels were broken yesterday. The next support is at 1834 and then 1600.
Trading Strategy: Go short with a stop loss at 2183.
Supports: 1834, 1600
Resistances: 2183, 2379

Infy - Infy did come close to our stop loss but did not break it. We will stay long with the same stop loss.
Trading Strategy: Stay long with stop loss at 1745-50
Supports: 1745-50, 1701
Resistances: 1844, 1911

July 6, 2009, Nifty

Nifty made a higher high and a higher low. However our stop loss was not hit.
Trading Strategy: Stay short with a stop loss at 4440
Supports: 4143, 4092
Resistances: 4440,4693

July 6, 2009, Single Stock

RIL - Again on Friday we hit our stop loss and closed our position. We will wait for the market's reaction to the budget before taking a position. The bias is however on the downside.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1980, 1942
Resistances: 2183, 2379

Infy - Infy did come close to our stop loss but did not break it. We will stay long with the same stop loss.
Trading Strategy: Stay long with stop loss at 1745-50
Supports: 1745-50, 1701
Resistances: 1844, 1911

July 3, 2009, Nifty

Nifty made a higher high and a higher low. However our stop loss was not hit.
Trading Strategy: Stay short with a stop loss at 4440
Supports: 4143, 4092
Resistances: 4440,4693

July 3, 2009, Single Stock

RIL - RIL made a higher high and a higher low. We hit our stop loss at 2113. Yesterday was also an engulfing candle. We will go long with a stop loss at yesterday's low.
Trading Strategy: Go long with short loss at 1988
Supports: 1988, 1942
Resistances: 2183, 2379

Infy - Infy did not make a higher high or a higher low. We will however stay long with the same stop loss.
Trading Strategy: Stay long with stop loss at 1745
Supports: 1745, 1701
Resistances: 1844, 1911

July 2, 2009, Nifty

Nifty made a lower high and a lower low. We will initiate a short position with a strict stop loss.
Trading Strategy: Go short with a stop loss at 4440
Supports: 4143, 4092
Resistances: 4440,4693

July 2, 2009, Single Stock

RIL - RIL made a lower high and a lower lower low. We hit our stop losses and booked profits. We will now initiate a short position with a stop loss at the recent high.
Trading Strategy: Go short with a stop loss at 2113
Supports: 1942, 1900
Resistances: 2113, 2379

Infy - Infy made a higher high and a higher low. It looks like the uptrend is starting again. We will go long with a strict stop loss
Trading Strategy: Go long with stop loss at 1758
Supports: 1758, 1701
Resistances: 1844, 1911

July 1, 2009, Nifty

Nifty made a lower high and a lower low. We hit our stop loss and booked profits. If Nifty is able to bounce from a support point above 4143, then the up-trend can be re-established. 4143 is a crucial support point which we will watch closely.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4267, 4143, 4092
Resistances: 4482, 4693

July 1, 2009, Single Stock

RIL - RIL made a lower high but not a lower low. The uptrend might be drawing to a close. Keep stop losses strict.
Trading Strategy: Stay long, move stop loss up to 2011
Supports: 2011, 1942, 1900
Resistances: 2037, 2379

Infy - Infy hit out stop loss and we booked profits. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1758, 1701, 1676
Resistances: 1844, 1911