June 30, 2009, Nifty

Nifty made a higher high and a higher low. However it was a doji candle. The 5 and 20 EMAs are also at the same point, which could be a strong support today. We will follow the up-move.
Trading Strategy: Stay long, move stop loss to 4339
Supports: 4339, 4143, 4092
Resistances: 4482, 4693

June 30, 2009, Single Stock

RIL - RIL made a higher high and a higher low. RIL also broke out of its 5 and 20 day EMAs. We will stay long but move our stop loss up.
Trading Strategy: Stay long, move stop loss up to 2005
Supports: 2005, 1942, 1900
Resistances: 2037, 2379

Infy - Infy made a higher high and a higher low yesterday. We will move our stop loss up, but stay long.
Trading Strategy: Stay long, move stop loss up to 1771
Supports: 1771, 1701, 1676
Resistances: 1844, 1911

June 29, 2009, Nifty

Nifty made a higher high and a higher low. We will follow the up-move.
Trading Strategy: Stay long, move stop loss to 4221
Supports: 4221, 4143, 4092
Resistances: 4693, 4482

June 29, 2009, Single Stock

RIL - RIL made a higher high and a higher low. We will go long with stop loss at recent low of 1942.
Trading Strategy: Go long with stop loss at 1942
Supports: 1942, 1900
Resistances: 2037, 2379

Infy - Infy made a higher high and a higher low yesterday. We will move our stop loss up, but stay long.
Trading Strategy: Stay long, move stop loss up to 1755
Supports: 1755, 1701, 1676
Resistances: 1844, 1911

June 26, 2009, Nifty

Nifty made a higher high and a higher low. Nifty also moved above its 5-day EMA. We will go long with a stop loss at recent low.
Trading Strategy: Go long with stop loss at 4143
Supports: 4143, 4092
Resistances: 4338, 4693

June 26, 2009, Single Stock

RIL - RIL made a lower low and a lower high. However RIL did not break the support at 1900. We will see if this holds over the next few sessions.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1900, 1731
Resistances: 2023, 2379

Infy - Infy made a higher high and a higher low yesterday. However it was a doji candle. We will move our stop loss up, but stay long.
Trading Strategy: Stay long, move stop loss up to 1748
Supports: 1748, 1701, 1676
Resistances: 1789, 1844

June 25, 2009, Nifty

Nifty hit our stop loss yesterday and we booked profits. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance support breaks or bounces.
Supports: 4143, 4092
Resistances: 4338, 4693

June 25, 2009, Single Stock

RIL - RIL hit our stop loss and booked profits. 1900 is now a new support point. We will see if this holds over the next few sessions.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1900, 1731
Resistances: 2034, 2379

Infy - Infy made a higher high and a higher low yesterday. We will go long.
Trading Strategy: Go long with a stop loss at 1701
Supports: 1701, 1676
Resistances: 1789, 1844

June 24, 2009, Nifty

Nifty broke the support at 4207, however it was a doji candle. We will keep stop losses strict.
Trading Strategy: Stay short, move stop loss to 4267
Supports: 4143, 4092
Resistances: 4343-52, 4693

June 24, 2009, Single Stock

RIL - RIL made lower low and a lower high yesterday. We will follow the down trend.
Trading Strategy: Stay short. Move stop loss to 2034.
Supports: 1880, 1731
Resistances: 2034, 2379

Infy - Infy moved down sharply yesterday and we hi our stop loss and booked profits. Yesterday was also a doji candle. We will wait and watch for today's price action before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1701, 1676
Resistances: 1789, 1844

June 23, 2009, Nifty

ifty made a higher low and a higher high yesterday. There could be a pause in the downmove.
Trading Strategy: If Nifty does not fall below 4207, close the short and go long with a stop loss at 4207.
Supports: 4207, 4092
Resistances: 4375, 4693

June 23, 2009, Single Stock

RIL - RIL made lower low and a lower high yesterday. We will follow the down trend.
Trading Strategy: Stay short. Move stop loss to 2050
Supports: 1977, 1880
Resistances: 2050, 2120

Infy - Infy made a higher high and a higher low yesterday. We will stay long. Trading Strategy: Stay long, move stop loss to 1748
Supports: 1748, 1676
Resistances: 1844 , 1911

June 22, 2009, Nifty

Nifty made a lower low and a lower high on Friday. The next support is at 4092. Stay short
Trading Strategy: Stay short with stop loss at 4375
Supports: 4092, 3538
Resistances: 4375, 4693

June 22, 2009, Single Stock

RIL - RIL made lower low and a lower high on Friday. However it was a doji candle. This could signal the end of the down move in RIL. Keep stop losses strict.
Trading Strategy: Stay short. Move stop loss to 2062
Supports: 1977, 1880
Resistances: 2062, 2120

Infy - Infy made a higher high and a higher low on Friday. We will stay long. Trading Strategy: Stay long with stop loss at 1676
Supports: 1676, 1601
Resistances: 1844 , 1911

June 19, 2009, Nifty

Nifty did not find a support above 4365. It broke 4365 and is on its way down. The next support is at 4092. Go short with stop loss at 4375.
Trading Strategy: Go short with stop loss at 4375
Supports: 4092, 3538
Resistances: 4375, 4693

June 19, 2009, Single Stock

RIL - RIL continued on its downtrend after breaking its support. We will initiate a short with strict stop losses.
Trading Strategy: Go short with stop loss at 2120
Supports: 1880, 1731
Resistances: 2120, 2379

Infy - We hit our stop loss on Tuesday and booked profits. We will no initiate a long position in Infy, since it made a higher high and higher low yesterday.
Trading Strategy: Go long with stop loss at 1676
Supports: 1676, 1601
Resistances: 1844 , 1911

June 17, 2009, Nifty

Nifty seems to be on a down trend but has not yet hit our stop loss at 4635. We will wait and watch today and close our position if needed. If Nifty can find a support above 4365, then it can continue its medium term up move.
Trading Strategy: Stay long with stop loss at 4365
Supports: 4365, 4238
Resistances: 4540, 4693

June 17, 2009, Single Stock

RIL - RIL broke its support at 2160. We hit our stop loss and closed our position. We will wait and watch for today's trading before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2091, 2000
Resistances: 2379, 2535

Infy - Infy did not make a lower low, but did not make a higher high. Keep stop losses strict and stay flexible.
Trading Strategy: Stay short, move stop loss to 1735
Supports: 1672, 1601
Resistances: 1735, 1844

June 16, 2009, Nifty

Nifty seems to be on a down trend but has not yet hit our stop loss at 4635. We will wait and watch today and close our position if needed. If Nifty can find a support above 4365, then it can continue its medium term up move.
Trading Strategy: Stay long with stop loss at 4365
Supports: 4365, 4238
Resistances: 4693, 4723

June 16, 2009, Single Stock

RIL - RIL fell sharply yesterday and closed just above our stop loss of 2160. We will wait and watch today before closing our position. Keep stop losses strict and be flexible.
Trading Strategy: Stay long with a stop loss at 2160.
Supports: 2160-75, 2091
Resistances: 2379, 2535

Infy - Infy is now clearly on a down trend. Though we are late in spotting it, we will take a short position with a stop loss at yesterday's high.
Trading Strategy: Go short with stop loss at 1776
Supports: 1666, 1601
Resistances: 1776, 1844

June 12, 2009, Nifty

Nifty broke out and made a new high of 4689 on Wednesday. However it now seems to be retracing from there. Yesterday was a lower high. If Nifty can find a support above 4365, then it can continue its medium term up move.
Trading Strategy: Stay long with stop loss at 4365
Supports: 4365, 4238
Resistances: 4723, 5106

June 12, 2009, Single Stock

RIL - RIL did not make a higher high yesterday. Today will be an important trading day. Keep stop losses strict and be flexible.
Trading Strategy: Stay long with a stop loss at 2160.
Supports: 2160-75, 2091
Resistances: 2340, 2535

Infy - Infy 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: 1654, 1601
Resistances: 1844, 1911

June 11, 2009, Nifty

We hit our stop loss and closed our position yesterday. With the risk of getting whipsawed, we will initiate a long position today. Nifty looks like it has broken out of 4637. However keep stop losses strict.
Trading Strategy: Go long with stop loss at 4365
Supports: 4365, 4238
Resistances: 4723, 5106

June 11, 2009, Single Stock

RIL - RIL broke out of 2330 yesterday, but only just. The high was 2340. We will take a long position, but keep stop losses very strict.
Trading Strategy: Go long with a stop loss at 2160.
Supports: 2160-75, 2091
Resistances: 2340, 2535

Infy - Infy continued on its up trend yesterday. We will follow it.
Trading Strategy: Stay long, move stop loss to 1736
Supports: 1736, 1601
Resistances: 1911, 1950

June 10, 2009, Nifty

In the short term Nifty is still retracing from its high of 4637. Stay short with strict stop losses.
Trading Strategy: Stay short with stop loss at 4637
Supports: 4238, 4092
Resistances: 4637, 4723

June 10, 2009, Single Stock

RIL - RIL traded within its resistance support range yesterday. Wait and watch for a break out on either side.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2157, 2091
Resistances: 2330, 2535

Infy - Infy continued on its up trend yesterday. We will follow it.
Trading Strategy: Stay long, move stop loss to 1720
Supports: 1720, 1601
Resistances: 1795, 1911

June 9, 2009, Nifty

Over the last couple of weeks Nifty has made a new high of 4637. In the medium term(2 weeks), the uptrend in the Nifty is still intact. For the uptrend to break Nifty must break 4238 on the downside and then 4092.
In the short term Nifty is retracing from its high of 4637. Go short with strict stop losses.
Trading Strategy: Go short with stop loss at 4637
Supports: 4238, 4092
Resistances: 4637, 4723

June 9, 2009, Single Stock

We did not update our blog the last couple of weeks since we were busy. Things are back to normal and you can expect regular updates from us going forward.

RIL - RIL broke out of the resistance at 2215, but could not make a new high. On the downside the supports are 2145 and then 2091. Wait and watch for a break out on either side.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2145, 2091
Resistances: 2330, 2535

Infy - We still hold the long position we initiated on May 27. We will move the stop loss to 1601.
Trading Strategy: Stay long, move stop loss to 1601
Supports: 1601, 1485
Resistances: 1795, 1911