Monday, November 23, 2009

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

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