January 28, 2009, Nifty

Nifty moved up sharply yesterday on short-covering. We will look to see if Nifty will move further up today. Asia is flat so Nifty should open flat.
Trading strategy: Play for resistances/supports breaks or bounces.
Supports: 2717, 2654-61
Resistances: 2802, 2843-68

January 28, 2009, Single Stock

RIL - RIL moved above it 5-SMA as well as its medium term 20-and 50-SMA. This is a strong positive signal. However we will be cautious ahead of expiry of Thursday.
Trading Strategy: Go long with a stop loss at 1170.
Supports: 1170, 1107
Resistances: 1249, 1370

Infy - Infy moved up sharply yesterday and broke it down trend. This could be the beginning of an uptrend. We will look for confirmation today.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1191-1200, 1119
Resistances: 1275, 1314

January 27, 2009, Nifty

On Friday we hit our stop loss and booked profits. Nifty could open a touch up this morning.
Trading strategy: Play for resistances/supports breaks or bounces.
Supports: 2654, 2570
Resistances: 2724, 2802

January 27, 2009, Single Stock

RIL - RIL opened up sharply on Friday, but was not able to hold the gains. We hit our stop loss and booked profits.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1107, 1077
Resistances: 1149, 1190-1216

Infy - Infy now looks clearly on a down trend. 1227 will be a strong resistance today.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1191-1200, 1119
Resistances: 1227, 1355

January 23, 2009, Nifty

Nifty went below 2701 in Thursday's trading. It was also a doji candle. This again indicates a strong move in the next couple of trading session. We believe the move will be on the downside, but keep strict stop losses.
Trading strategy: Stay short and move stop loss to 2744
Supports: 2701, 2654
Resistances: 2744, 2802

January 23, 2009, Single Stock

RIL - RIL was flat on Thursday making a lower high, but almost the same low. Let us see how the market reacts to results.
Trading Strategy: Stay short. Move stop loss down to 1154
Supports: 1077, 1025
Resistances: 1154, 1190-1216

Infy - Infy went just below our support of 1207. It bounce back sharply from 1203.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1200-1207, 1119
Resistances: 1240, 1355

January 22, 2009, Nifty

Nifty broke below 2701 yesterday. This is indicative of a downward trend.
Trading strategy: Go short with a stop loss at 2787
Supports: 2701, 2654
Resistances: 2787, 2802

January 22, 2009, Single Stock

RIL - RIL fell sharply yesterday. It also made a lower high and lower low. The next support for RIL is at 1077.
Trading Strategy: Go short with stop loss at 1216
Supports: 1077, 1025
Resistances: 1190-1216, 1386

Infy - Infy made a lower low and a lower high. There is a strong support at 1207 for Infy.
Trading Strategy: If Infy breaks below 1207 and holds below it, go short with stop loss at 1252.
Supports: 1207, 1119
Resistances: 1252, 1355

January 21, 2009, Nifty

Nifty fell sharply yesterday and we hit our stop loss in the opening trade. Nifty is settling down in in the 2700-2900 range. A break-out on the upside or downside could be a clear signal.
Trading strategy: Play for resistance/support breaks or bounces.
Supports: 2748, 2701
Resistances: 2802, 2868

January 21, 2009, Single Stock

RIL - RIL broke its uptrend yesterday and we booked our profits. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1077, 1025
Resistances: 1193, 1390

Infy - Infy hit our op loss and we booked profits. We will wait and watch before taking a new position.
Trading Strategy: Stay long with a stop loss at 1241. Keep stop losses strict.
Supports: 1215, 1119
Resistances: 1252, 1355

January 20, 2009, Nifty

Nifty rose sharply yesterday. Nifty also broke-out above its 5-SMA. We go long but keep stop losses strict.
Trading strategy: Go long with a stop loss at 2819
Supports: 2819, 2701
Resistances: 2853, 3050

January 20, 2009, Single Stock

RIL - RIL continued on it uptrend. We move our stop loss up to yesterday's low of 1208.
Trading Strategy: Stay long; move stop loss to 1208.
Supports: 1192-1212, 1107
Resistances: 1265-70, 1390

Infy - Infy made a a doji with a almost similar high and low. Infy could be in for a sharp move on either side. We stay long but will look to book profits today.
Trading Strategy: Stay long with a stop loss at 1241. Keep stop losses strict.
Supports: 1241-1252, 1215
Resistances: 1355, 1447

January 19, 2009, Nifty

Nifty rose sharply on Friday. However Nifty did not make a clear higher high, so we stay cautious.
Trading strategy: Play for resistances/supports breaks/bounces
Supports: 2701, 2654
Resistances: 2853, 3050

January 19, 2009, Single Stock

RIL - As predicted RIL rose sharply on Friday. We follow the uptrend and move our stop loss to 1139.
Trading Strategy: Stay long; move stop loss to 1139.
Supports: 1139, 1107
Resistances: 1216-32, 1390

Infy - Infy made a higher high and higher low on Friday. We will go long with strict stop losses.
Trading Strategy: Go long with a stop loss at 1215
Supports: 1247, 1215
Resistances: 1355, 1447

January 16, 2009, Nifty

Nifty fell sharply yesterday and we hit our stop loss in the opening trades. Asia is up this morning. Nifty could open up.
Trading strategy: Play for resistances/supports breaks/bounces
Supports: 2701, 2654
Resistances: 2853, 3050

January 16, 2009, Single Stock

RIL - RIL made a doji yesterday, indicating indecision. There could be sharp moves over the next few trading sessions. We hold our long position but will keep stop losses strict.
Trading Strategy: Stay long; move stop loss to 1107.
Supports: 1127-1142, 1107
Resistances: 1220, 1390

Infy - Infy fell like the rest of the market. However Infy closed above the support of 1228. We wail wait and watch for a clear signal before taking a position.
Trading Strategy: Play for resistances/supports breaks or bounces.
Supports: 1236, 1119
Resistances: 1355, 1447

January 15, 2009, Nifty

Nifty rose sharply yesterday and we booked our profits. Asia is down this morning. Nifty could open down. This could be the beginning of another uptrend for the nifty. We will follow it with strict stop losses.
Trading strategy: Go long with a stop loss at 2750.
Supports: 2807, 2750
Resistances: 2878, 3050

January 15, 2009, Single Stock

RIL - RIL rose sharply yesterday and broke its downtrend. We hit our stop loss and booked profits.
Trading Strategy: Go long with a stop loss of 1077.
Supports: 1127-1142, 1077
Resistances: 1220, 1390

Infy - Infy rose sharply yesterday, and made a higher high and higher low. Infy also broke the resistance at 1299.
Trading Strategy: Play for resistances/supports breaks or bounces.
Supports: 1228, 1119
Resistances: 1355, 1447

January 14, 2009, Nifty

Yesterday Nifty continued its down trend. The next major support is at 2654. Asia is up this morning. Nifty could open a touch up.
Trading strategy: Stay short, move stop loss down to 2869
Supports: 2654, 2502
Resistances: 2802, 3050

January 14, 2009, Single Stock

RIL - RIL continued on its down trend yesterday. We will keep the stop loss at 1145. Trading Strategy: Stay short with a stop loss of 1145. If RIL closes above 1132, book profits.
Supports: 1050, 1025
Resistances: 1146, 1206

Infy - Infy rose sharply yesterday, and we hit our stop losses. Yesterday was an engulfing candle, meaning uncertainty. We will look for today's price action before taking a position
Trading Strategy: Play for resistances/supports breaks or bounces.
Supports: 1119, 1065
Resistances: 1299, 1447

January 13, 2009, Nifty

Yesterday Nifty continued its down trend. The next major support is at 2748. Asia is up this morning. Nifty could open a touch up.
Trading strategy: Stay short, move stop loss down to 2869
Supports: 2748, 2654
Resistances: 2869, 3050

January 13, 2009, Single Stock

RIL - RIL continued on its down trend yesterday. We will follow it with strict stop losses.
Trading Strategy: Stay short with a stop loss of 1145
Supports: 1050, 1025
Resistances: 1206, 1292-1306

Infy - Infy fell sharply yesterday. We hit out stop loss at 1170 and booked profits. Infy clearly made a lower high and a lower low yesterday. This looks like the beginning of a downtrend.
Trading Strategy: Go short with a stop loss at 1210
Supports: 1090, 1065
Resistances: 1210-1222, 1299

January 9, 2009, Nifty

On Friday Nifty clearly broke its medium term uptrend which started from a low of 2252. We now look to see where Nifty will find support. Asia is down this morning. Nifty could open a touch down.
Trading strategy: Go short with a strict stop loss at 2930
Supports: 2812-2824, 2570
Resistances: 2930, 3050

January 12, 2009, Single Stock

RIL - RIL began a clear downtrend on Friday. We will follow it with strict stop losses.
Trading Strategy: Go short with a stop loss of 1210
Supports: 1050, 1025
Resistances: 1210, 1292-1306

Infy - Infy rose sharply on Friday but lost most of the gains later in the day. Infy is still in an uptrend.
Trading Strategy: Stay long, move stop loss up to 1170. Keep stop loss strict. If Infy does not break 1267 today, then look to book profits.
Supports: 1170, 1145
Resistances: 1222, 1299

January 9, 2009, Nifty

On Wednesday, we hit our stop loss and booked our profits. We will look for today's price action before taking a new position. Asia is down this morning and Nifty could open touch down.

Trading strategy: Play for resistance/support breaks/bounces.
Supports: 2900, 2812-2824
Resistances: 3050, 3148

January 9, 2009, Single Stock

RIL - RIL broke its uptrend on Wednesday. We hit our stop losses and booked profits. RIL also broke the support of 1188. We will look for today's price action before deciding a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1050, 1025
Resistances: 1292-1306, 1386

Infy - Infy made a low of 1146 on Wednesday, just above the support at 1145. We will stay long but look to book profits today.
Trading Strategy: Stay long, move stop loss up to 1146. Keep stop loss strict.
Supports: 1145, 1065
Resistances: 1222, 1299

January 7, 2009, Nifty

Yesterday Nifty fell to its low of Monday. From there it rallied sharply to close above 3100. It was also a doji candle yesterday. We will keep stop losses strict at the support of 3056. Look to book profits if Nifty closes below 3079.
Trading strategy: Stay long with stop loss at 3055. If Nifty closes below 3079 close position.
Supports: 3056, 2974
Resistances: 3148, 3240

January 7, 2009, Single Stock

RIL - RIL continued on its uptrend yesterday. However yesterday was a doji candle, indicating a possible trend reversal. Keep stop losses strict and look to book profits.
Trading Strategy: Stay long. Move stop loss to 1331
Supports: 1331, 1285-1300
Resistances: 1390-1407, 1505

Infy - On Tuesday, Infy continued its uptrend. We will follow it and move our stop loss up.
Trading Strategy: Stay long, move stop loss up to 1145
Supports: 1145, 1065
Resistances: 1222, 1299

January 6, 2009, Nifty

Nifty continued on its uptrend yesterday. We follow this and move our stop loss to yesterday's low of 3056. Nifty was able to take out the resitance at 3110. This is a good indicator for the medium term (weeks).
Trading strategy: Stay long with stop loss at 3056
Supports: 3056, 2974
Resistances: 3148, 3240

January 6, 2009, Single Stock

RIL - As predicted RIL rose sharply yesterday. However it did not break the resistance at 1377. We will look to see if RIL can break the resistance at 1377.
Trading Strategy: Stay long. Move stop loss to 1295
Supports: 1281-95, 1188
Resistances: 1377, 1407

Infy - On Monday, Infy continued its uptrend. We will follow it and move our stop loss up.
Trading Strategy: Stay long, move stop loss up to 1140
Supports: 1140, 1065
Resistances: 1222, 1299

January 5, 2009, Nifty

Nifty continued on its uptrend on Friday. We follow this and move our stop loss to Friday's low of 3033.
Trading strategy: Stay long with stop loss at 3033
Supports: 3033, 2974,
Resistances: 3110, 3240

January 5, 2009, Single Stock

RIL - On Friday RIL clearly broke out of a resistance zone. If RIL is able to hold above 1256, it could be in for an uptrend.
Trading Strategy: Go long with a stop loss at 1252-1256
Supports: 1252-1256, 1188
Resistances: 1377, 1407

Infy - On Friday, Infy continued its uptrend. We will follow it and move our stop loss up.
Trading Strategy: Stay long, move stop loss up to 1124
Supports: 1124, 1065
Resistances: 1222, 1299

January 2, 2009, Nifty

Nifty continued on its uptrend yesterday. We follow this and move our stop loss to yesterday's low of 2963.
Trading strategy: Go long with stop loss at 2963
Supports: 2963-2974, 2812
Resistances: 3110, 3240

January 2, 2009, Single Stock

RIL - Yesterday RIL has an inside day, indicating a possible trend reversal. We will look for a break out on either side today.
Trading Strategy: Play for resistance/support breaks/bounces.
Supports: 1246, 1188
Resistances: 1265, 1377

Infy - Infy made a higher high and higher low yesterday. Infy also broke above its 5-EMA. This could the beginning of an uptrend; we will follow it.
Trading Strategy: Go long with stop loss of 1112
Supports: 1112, 1065
Resistances: 1222, 1299