October 28, 2009, Single Stock

Today is Bill Gates' birthday so we are a little late. The market has opened and Nifty is already below 4800.

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 2010.
Supports: 1923-43, 1717
Resistances: 2010, 2236-40, 2285

Infy - Infy just managed to make a higher high but also made a lower low. We hit our stop loss and booked profits. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 2167-77, 2120
Resistances: 2288-2300, 2353, 2415-21