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