November 30, 2009, Nifty

Nifty made a lower high and a lower low. However it was a hammer candle. We feel there might be a pull back, but expect a deep correction to set in later in the week. Hence we will not move our stop loss down.
Trading Strategy: Stay short with a stop loss at 5113
Supports: 4933, 4860
Resistances: 5113, 5182

November 30, 2009, Single Stock

Bharti - Bharti made a lower low and a higher high. We hit our stop loss and closed our position. We will wait and watch before taking a new position.
Trading strategy: Play for resistance/support breaks or bounces.
Supports: 277.4, 274.4
Resistances: 287.6, 307.9

Infosys - Infy made a lower low and a lower high. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2249, 2120-30
Resistances: 2449

RIL - RIL made a lower low and a lower high. However it was a doji candle, so we could see a rebound from here. We have not yet adjusted for the stock split so our numbers are still based on the old prices.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2044-61, 2036
Resistances: 2213, 2236-40

November 27, 2009, Nifty

Nifty made a lower high and a lower low. Our stop loss was hit and we closed our position. The only saving grace was that we closed our position before Nifty began it 75 pt fall for the day. The failure to take out 5182 is not a good sign for he Nifty. We will be go short.
Trading Strategy: Go short with a stop loss at 5113
Supports: 4933, 4860
Resistances: 5113, 5182

November 27, 2009, Single Stock

Bharti - Bharti made a higher high and a higher low. We will stay long.
Trading strategy: Stay long with a stop loss at 277.4
Supports: 277.4, 270.6
Resistances: 307.9, 325.6

Infosys - Infy made a lower low and a lower high. Our stop loss was just hit and we closed our position with a loss.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2367, 2249, 2120-30
Resistances: 2449

RIL - RIL hit our stop loss and closed our position. We have not yet adjusted for the stock split so our numbers are still based on the old prices.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2044-61, 2036
Resistances: 2213, 2236-40

November 26, 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 with a stop loss at 5078
Supports: 4933, 4860
Resistances: 5182

November 26, 2009, Single Stock

Bharti - Bharti made a higher high and a higher low. It was also a doji candle. We hit our stop loss and closed our position. We will go long with a stop loss at recent low.
Trading strategy: Go long with a stop loss at 277.4
Supports: 277.4, 270.6
Resistances: 307.9, 325.6

Infosys - Infy made a higher high and a higher low. We will go long.
Trading Strategy: Go long with a stop loss at 2368
Supports: 2368, 2249, 2120-30
Resistances: 2449

RIL - RIL made a higher high, but a lower low. The break out does not look very strong, however we will stay long.
Trading Strategy: Stay long, move stop loss to 2133
Supports: 2044-61, 2036
Resistances: 2213, 2236-40

November 25, 2009, Nifty

Nifty made a equal high and a higher low. We will stay long, but move our stop loss up.
Trading Strategy: Stay long with a stop loss at 5052
Supports: 4933, 4860
Resistances: 5182

November 25, 2009, Single Stock

Bharti - Bharti made a lower high, but not a lower low. We will follow the high and move our stop loss down.
Trading strategy: Stay short, move stop loss to 283.5
Supports: 280, 270.6
Resistances: 307.9, 325.6

Infosys - Infy made a lower high and a higher low. We will wait and watch to see which side there is a break out.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 2335, 2249, 2120-30
Resistances: 2449

RIL - RIL made a higher low and a lower high. The break out does not look very strong, however we will move our stop loss up and stay long.
Trading Strategy: Stay long, move stop loss to 2133
Supports: 2044-61, 2036
Resistances: 2213, 2236-40

November 24, 2009, Nifty

Nifty made a higher high but a higher low. It broke the previous high. We hit our stop loss and closed our position. We will go long. Nifty needs to take out the previous high of 5182 for a sustained up move.
Trading Strategy: Go long with a stop loss at 4933
Supports: 4933, 4860
Resistances: 5182

November 24, 2009, Single Stock

Bharti - As predicted Bharti continued its downtrend. We will follow and move our stop loss down.
Trading strategy: Stay short, move stop loss to 290
Supports: 280, 270.6
Resistances: 307.9, 325.6

Infosys - Infy made a lower high and a higher low. We will wait and watch before taking a position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 2335, 2249, 2120-30
Resistances: 2449

RIL - RIL made a higher high and a higher low. It seems to have broken out of the resistance at 2162. We will go long with stop loss at the recent low.
Trading Strategy: Go long with stop loss at 2065
Supports: 2044-61, 2036
Resistances: 2213, 2236-40

November 23, 2009, Nifty

Nifty made a higher high but a lower low. However our stop loss was not it. We expect this kind of sharp pull back when a big support is broken. We will stay short.
Trading Strategy: Stay short with a stop loss at 5079.
Supports: 4860, 4804
Resistances: 5079, 5182

November 23, 2009, Single Stock, Bharti initiation

Bharti - We are starting coverage of Bharti. NSE code BHARTIARTL. The stock has been in medium term downtrend since a high of 480 on Sept 24.
In the short term also the trend is downward, with the previous high at 307.9. However the previous low of 280 has not been breached and the stock could take support from there. After that the next low is 270.6
We will go short with a stop loss at the recent high.
Trading strategy: Go short, with a stop loss at 307.9
Supports: 280, 270.6
Resistances: 307.9, 325.6

Infosys - Infy made a higher high and a higher low. Our stop loss was hit we closed our position. We will wait and watch before taking another position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 2335, 2249, 2120-30
Resistances: 2449

RIL - RIL made a higher high but a lower low. We hit our stop loss and booked our profits. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 2044-61, 2036
Resistances: 2162, 2213, 2236-40

November 20, 2009, Nifty

As expected Nifty made a sharp down move on Thursday and we booked our profits. If you did not already go short, go short with a stop loss at the recent high.
Trading Strategy: Go short with a stop loss at 5079.
Supports: 4860, 4804
Resistances: 5079, 5182

November 20, 2009, Single Stock

RIL - As expected RIL fell sharply. We will move our stop loss down.
Trading Strategy: Stay short, move stop loss to 2110.
Supports: 2044-61, 2036
Resistances: 2162, 2213, 2236-40

Infy - Infy made a lower low and a lower high. Our stop loss was hit 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 2443.
Supports: 2335, 2249, 2120-30
Resistances: 2443

November 19, 2009, Nifty

Nifty made a higher high and a higher low. However it was the second successive doji candle for the Nifty. We seem to be winding up for a large move. Stay long, move stop loss up, but keep stop losses strict. Be prepared to switch to short if needed.
Trading Strategy: Stay long, move stop loss up to 5042. If Nifty breaks 5023, go short with a stop loss at 5079.
Supports: 5023, 4860, 4804
Resistances: 5079, 5182

November 19, 2009, Single Stock

RIL - As expected RIL fell sharply on Wednesday. Our stop loss of 2162 was on the dot. Stay short.
Trading Strategy: Stay short with a stop loss at 2162.
Supports: 2113, 2044-61, 2036
Resistances: 2162, 2213, 2236-40

Infy - Infy made a higher low and a higher high. Stay long, move stop loss up.
Trading Strategy: Stay long, move stop loss to 2399.
Supports: 2335, 2249, 2120-30
Resistances: 2375, 2421

November 18, 2009, Nifty

Nifty just managed to make a higher high and a higher low. However it was a doji candle. Stay long, move stop loss up, but keep stop losses strict. Be prepared to switch to short if needed.
Trading Strategy: Stay long, move stop loss up to 5010. If Nifty breaks 5007, go short with a stop loss at 5077.
Supports: 4860, 4804, 4611
Resistances: 5077, 5182

November 18, 2009, Single Stock

RIL - RIL made a lower high and a lower low. Our stop loss was hit and we booked profits. We will not initiate a short position.
Trading Strategy: Go short with a stop loss at 2162.
Supports: 2113, 2044-61, 2036
Resistances: 2162, 2213, 2236-40

Infy - Infy made a higher low, but not a higher high. Stay long, move stop loss up.
Trading Strategy: Stay long, move stop loss to 2356.
Supports: 2335, 2249, 2120-30
Resistances: 2375, 2421

November 17, 2009, Nifty

Nifty made a higher high and a higher low. Stay long but move stop loss up.
Trading Strategy: Stay long, move stop loss up to 4994.
Supports: 4860, 4804, 4611
Resistances: 5077, 5182

November 17, 2009, Single Stock

RIL - RIL made a higher high and a higher low. It was also a doji candle, suggesting a possible end to the up move. We will stay long, but move our stop loss up.
Trading Strategy: Stay long, move stop loss to 2132.
Supports: 2132, 2044-61, 2036
Resistances: 2162, 2213, 2236-40

Infy - Infy made a higher low, but not a higher high. Stay long, move stop loss up.
Trading Strategy: Stay long, move stop loss to 2335.
Supports: 2249, 2120-30, 2025
Resistances: 2375, 2421

November 16, 2009, Nifty

Nifty made a higher low and higher high. Stay long but move stop loss up.
Trading Strategy: Stay long, move stop loss up to 4942.
Supports: 4860, 4804, 4611
Resistances: 5077, 5182

November 16, 2009, Single Stock

RIL - RIL made a lower high and a lower low on Friday. We will stay long, but keep stop losses strict. If 2044 is broken, go short with a stop loss at the recent high.
Trading Strategy: Stay long, keep stop loss at 2084. If 2044-61 is broken, go short with a stop loss at 2146.
Supports: 2044-61, 2036, 1975
Resistances: 2146, 2213, 2236-40

Infy - Infy made a higher high and a higher low on Friday. Stay long, move stop loss up.
Trading Strategy: Stay long, move stop loss to 2313.
Supports: 2249, 2120-30, 2025
Resistances: 2421

November 13, 2009, Nifty

Nifty made a higher low, but did not make a higher high. Stay long but move stop loss up.
Trading Strategy: Stay long, move stop loss up to 4925.
Supports: 4860, 4804, 4611
Resistances: 5077, 5182

November 13, 2009, Single Stock

RIL - RIL made a higher high and a higher low on Thursday. We will stay long but move stop loss up. 2044-61 is a strong support region.
Trading Strategy: Stay long, move stop loss to 2084. If 2044-61 is broken, go short with a stop loss at 2146.
Supports: 2044-61, 2036, 1975
Resistances: 2213, 2236-40

Infy - Infy made a higher high and a higher low on Thursday. Stay long, move stop loss up.
Trading Strategy: Stay long, move stop loss to 2287.
Supports: 2249, 2120-30, 2025
Resistances: 2353, 2421

November 12, 2009, Nifty

Apologies for not posting on ideas for November 11.
Nifty made a higher high and a higher low. Stay long but move stop loss up.
Trading Strategy: Stay long, move stop loss up to 4860.
Supports: 4860, 4804, 4611
Resistances: 5077, 5182

November 12, 2009, Single Stock

Apologies for not posting on ideas for November 11.
RIL - RIL made a higher high and a higher low on Wednesday. We will stay long but move stop loss up. RIL broke the resistances at 2044 and at 2080.
Trading Strategy: Stay long, move stop loss to 2036.
Supports: 2036, 1975, 1930
Resistances: 2213, 2236-40

Infy - 2200 did not break and our patience paid off. As we predicted, Infy made a sharp move up on Wednesday. Stay long, move stop loss up.
Trading Strategy: Stay long, move stop loss to 2249.
Supports: 2249, 2120-30, 2025
Resistances: 2288-2300, 2353

November 10, 2009, Nifty

Nifty made a higher high and a higher low. Stay long but move stop loss up.
Trading Strategy: Stay long, move stop loss up to 4790.
Supports: 4804, 4611, 4530
Resistances: 5077, 5182

November 10, 2009, Single Stock

RIL - RIL made a higher high and a higher low. We will stay long but move stop loss up. There is a strong resistance at 2044 and then at 2080. We will wait to see if RIL can break out of these.
Trading Strategy: Stay long, move stop loss to 1962.
Supports: 1930, 1851, 1802
Resistances: 2043, 2080, 2236-40

Infy - Infy made a lower high and a higher low. It was also a doji candle. Keep stop losses strict. Stay long but be prepared to switch to short.
Trading Strategy: Stay long, move stop loss to 2200. If 2200 breaks, go short with a stop loss at 2242.
Supports: 2120-30, 2025
Resistances: 2288-2300, 2353

November 09, 2009, Nifty

Nifty made a higher high and a higher low. It was a hammer candle, indicating possible resistance. Stay long but move stop loss up.
Trading Strategy: Stay long, move stop loss up to 4765.
Supports: 4611, 4530, 4400,
Resistances: 4854, 5077, 5182

November 09, 2009, Single Stock

RIL - RIL made a higher high and a higher low. We will stay long but move stop loss up to Friday's low.
Trading Strategy: Stay long, move stop loss to 1930
Supports: 1930, 1851, 1802
Resistances: 2043, 2236-40

Infy - Infy made a higher high and a higher low. Keep stop losses strict. Stay long but be prepared to switch to short.
Trading Strategy: Stay long, move stop loss to 2193. If 2165 breaks, go short with a stop loss at 2242.
Supports: 2120-30, 2025
Resistances: 2288-2300, 2353

November 06, 2009, Nifty

Nifty made a higher high and a higher low. Stay long but move stop loss up.
Trading Strategy: Stay long, move stop loss up to 4611.
Supports: 4611, 4530, 4400,
Resistances: 4854, 5077, 5182

November 06, 2009, Single Stock

RIL - RIL made a higher high and a higher low. It was also a hammer candle. We will stay long but move stop loss up to Thursday's low.
Trading Strategy: Stay long, move stop loss to 1851
Supports: 1851, 1802, 1717
Resistances: 1933, 2043, 2236-40

Infy - Infy made another inside day. It was also a doji candle. Keep stop losses strict. We now expect a major move from Infy. Stay long but be prepared to switch to short.
Trading Strategy: Stay long with a stop loss at 2165, If 2165 breaks, go short with a stop loss at 2242.
Supports: 2120-30, 2025
Resistances: 2288-2300, 2353

November 05, 2009, Nifty

Yesterday was a clear inside day for the Nifty, indicating a trend reversal. If you did not go long yesterday, go long today.
Trading Strategy: If you did not go long yesterday, go long today, with a stop loss at 4530.
Supports: 4530, 4400,
Resistances: 4854, 5077, 5182

November 05, 2009, Single Stock

RIL - RIL made a higher high and a higher low. Go long with a stop loss at the recent low.
Trading Strategy: Go long with a stop loss at 1802.
Supports: 1802, 1717
Resistances: 1933, 2043, 2236-40

Infy - Infy made a higher high and a higher low. We hit our stop loss and booked profits. Go long with a stop loss at the recent low.
Trading Strategy: Go long with a stop loss at 2130.
Supports: 2120-30, 2025
Resistances: 2288-2300, 2353

November 04, 2009, Nifty

We were early in booking profits on the Nifty. If the Nifty can bounce from current levels it will imply a 76% retracement of the up move from 4353 to 5182. However if Nifty opens down tomorrow, this will mean that Nifty is retracing the upmove from 3919 to 5182, in which case the next support is at 4400.
Trading Strategy: If Nifty opens up and holds go long with a stop loss at 4530. If Nifty opens down, go short with a stop loss at 4854.
Supports: 4530, 4400,
Resistances: 4854, 5077, 5182

November 04, 2009, Single Stock

RIL - RIL made a lower low and a lower high. RIL broke its support at 1868. We will wait to see if RIL bounces back from 1868. The next support is at 1717.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1717
Resistances: 2043, 2236-40

Infy - Infy made a lower high and a lower low. We will stay short but move our stop loss down.
Trading Strategy: Stay short, move stop loss down to 2247.
Supports: 2120, 2025
Resistances: 2247-50, 2288-2300, 2353

November 03, 2009, Nifty

Nifty's down trend looks like it is ending. Nifty made a higher high, but also a lower low. We hit out stop loss and booked profits.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4618, 4580,
Resistances: 4811, 5077, 5182

November 03, 2009, Single Stock

RIL - RIL made a lower low and a lower high. We hit our stop loss and closed our position. As predicted there was a major move in RIL. We will wait to see if RIL bounces back from 1922. The next support is at 1868.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1923-43, 1868
Resistances: 2043, 2236-40, 2285

Infy - Infy made a lower high and a lower low. We will stay short but move our stop loss down.
Trading Strategy: Stay short, move stop loss down to 2250.
Supports: 2167-77, 2120
Resistances: 2250, 2288-2300, 2353