February 1, 2010, Nifty

Nifty made a lower low and a lower high. However it was a doji candle. We will stay short. The support at 4800 was broken, however we could see a pull-back after the break of the resistance.
Trading Strategy: Stay short, move stop loss down to 4945
Supports: 4807, 4539
Resistances: 4945, 5133

February 1, 2010, Single Stock

Bharti - Bharti made a lower low and a lower high. We will stay short.
Trading strategy: Stay short with a stop loss at 332.
Supports: 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a lower low but a higher high. We will stay short, but move stop loss down.
Trading Strategy: Stay short, move stop loss down to 2555.
Supports: 2458, 2415, 2307
Resistances: 2572, 2700

RIL - RIL made a lower low but 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: 990-1011, 901
Resistances: 1046, 1150

January 29, 2010, Nifty

Nifty made a lower low and a lower high. However it was a doji candle. We will stay short. The support at 4807 seems to be holding.
Trading Strategy: Stay short with stop loss at 5009.
Supports: 4807, 4539
Resistances: 4945, 5133

January 29, 2010, Single Stock

Bharti - Bharti fell to a low of 311. We hit our stop loss and switched to a short. We will stay short.
Trading strategy: If you did not go short, go short with a stop loss at 332.
Supports: 311-15, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a lower low but a higher high. We will stay short.
Trading Strategy: Stay short, with stop loss at 2570.
Supports: 2458, 2415, 2307
Resistances: 2572, 2700

RIL - RIL made a higher low but a lower high. We will stay short.
Trading Strategy: Stay short, with a stop loss at 1050
Supports: 990-1011, 901
Resistances: 1150

January 28, 2010, Nifty

Nifty did not pull back as expected but fell further. We will stay short, but move our stop loss down. The stop loss at 4955 was broken. We could see further downside from here.
Trading Strategy: Stay short, move stop loss down to 5009.
Supports: 4807, 4539
Resistances: 4945, 5133

January 28, 2010, Single Stock

Bharti - Bharti did not break out, but fell. However it still made a low above our stop loss. We will stay long.
Trading strategy: Stay long with a stop loss at 315. Switch to short if 315 is broken.
Supports: 311-15, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a lower low and a lower high. We will stay short, but move our stop loss down. 2458 is an important support. We will see if Infy can take a support from there.
Trading Strategy: Stay short, move stop loss down to 2570.
Supports: 2458, 2415, 2307
Resistances: 2572, 2700

RIL - RIL made a lower low and a lower high. We will stay short, but move our stop loss down.
Trading Strategy: Stay short, move stop loss down to 1050
Supports: 990-1011, 901
Resistances: 1150

January 27, 2010, Nifty

Nifty made another hammer candle on Monday, but a smaller one. This is the second successive hammer. We will stay short, but move our stop loss down. The Nifty looks likely to pull back after the recent fall. Keep stop losses strict.
Trading Strategy: Stay short, move stop loss down to 5094.
Supports: 4955, 4925-44, 4807
Resistances: 5133, 5182, 5215

January 27, 2010, Single Stock

Bharti - Bharti jumped up sharply from its low of 315. However it was unable to break the resistance at 332. We will look for a break of 332 on Wednesday. We will stay long.
Trading strategy: Stay long with a stop loss at 315. Switch to short if 315 is broken.
Supports: 311-15, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a lower low and a lower high. We will stay short, but move our stop loss down.
Trading Strategy: Stay short, move stop loss down to 2610.
Supports: 2565, 2482, 2458
Resistances: 2700

RIL - RIL made an inside day. We will watch closely to see if our stop loss is hit. We will stay short.
Trading Strategy: Stay short with a stop loss at 1075
Supports: 1050, 1011, 901
Resistances: 1150

January 25, 2010, Nifty

As predicted Nifty fell again on Friday. It was a hammer candle which took support from above 4933. We will wait and watch if that support will hold or if Nifty will fall further. We will stay short, but move our stop loss down.
Trading Strategy: Stay short, move stop loss down to 5133.
Supports: 4925-44, 4807
Resistances: 5182, 5215, 5311

January 25, 2010, Single Stock

Bharti - Bharti made a lower high and a lower low. It touched our stop loss of 315, but did not break. We will stay long, but be prepared to switch to short.
Trading strategy: Stay long with a stop loss at 315. Switch to short if 315 is broken.
Supports: 311-15, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a lower low and a lower high. We will stay short, but move our stop loss down.
Trading Strategy: Stay short, move stop loss down to 2621.
Supports: 2565, 2482, 2458
Resistances: 2700

RIL - RIL broke the support at 1050. We will go short.
Trading Strategy: Go short with a stop loss at 1075
Supports: 1050, 1011, 901
Resistances: 1150

January 22, 2010, Nifty

Nifty fell sharply in Thursday's trade. We could see some more downside as support at 5160 was broken. We will stay short
Trading Strategy: Stay short,move stop loss down to 5182
Supports: 5160, 4933
Resistances: 5182, 5215, 5311

January 22, 2010, Single Stock

Bharti - Bharti made a lower high and a lower low. We will stay long.
Trading strategy: Stay long with a stop loss at 315.
Supports: 311-15, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a lower low and a lower high. We will stay short.
Trading Strategy: Stay short with a stop loss at 2700, but be prepared to switch to long if there is a break out above 2700.
Supports: 2628, 2464-76, 2355
Resistances: 2700

RIL - RIL fell sharply but did not break below 1050. We will still watch for RIL to get out of the 1050-1150 band and switch our positions accordingly.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1050, 1011, 901
Resistances: 1150

January 21, 2010, Nifty

Nifty a lower low and a lower high. We will stay short. However it was a doji candle so be prepared to close the short.
Trading Strategy: Stay short with a stop loss at 5311
Supports: 5160, 4933
Resistances: 5311

January 21, 2010, Single Stock

Bharti - Bharti made a higher low and a higher high. We hit our stop loss and booked profits. It was also a doji candle. We will go long.
Trading strategy: Go long with a stop loss at 315.
Supports: 311-15, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made an inside day and a doji candle. We can expect a sharp move in Infy now. It could be on the upside.
Trading Strategy: Stay short with a stop loss at 2700, but be prepared to switch to long if there is a break out above 2700.
Supports: 2628, 2464-76, 2355
Resistances: 2700

RIL - RIL made a lower low and a lower high. We will still watch for RIL to get out of the 1050-1150 band and switch our positions accordingly.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1050, 1011, 901
Resistances: 1150

January 20, 2010, Nifty

Nifty a lower low and a lower high. We will stay short.
Trading Strategy: Stay short with a stop loss at 5311
Supports: 5160, 4933
Resistances: 5311

January 20, 2010, Single Stock

Bharti - Bharti made a higher low and a higher high. It was also a doji candle. We will stay short.
Trading strategy: Stay short with a stop loss 332
Supports: 311, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a lower low and a lower high. We will stay short.
Trading Strategy: Stay short with a stop loss at 2700.
Supports: 2464-76, 2355, 2307
Resistances: 2700

RIL - RIL made a lower low and a lower high. We will still watch for RIL to get out of the 1050-1150 band and switch our positions accordingly.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1050, 1011, 901
Resistances: 1150

January 19, 2010, Nifty

On Friday, Nifty made a higher high and a lower low. We will stay short.
Trading Strategy: Stay short with a stop loss at 5311
Supports: 5160, 4933
Resistances: 5311

January 19, 2010, Single Stock

Bharti - Bharti made a higher low, but a lower high. We will stay short.
Trading strategy: Stay short with a stop loss 332
Supports: 311, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a lower high and a higher low. It looks like 2700 is a strong resistance. We will go short.
Trading Strategy: Go short with a stop loss at 2700.
Supports: 2464-76, 2355, 2307
Resistances: 2700

RIL - We hit our stop loss soon after we opened our position. We will still watch for RIL to get out of the 1050-1150 band and switch our positions accordingly, but it looks like there might be a break out on the upside.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1050, 1011, 901
Resistances: 1150

January 18, 2010, Nifty

On Friday, Nifty made a higher high and a higher low. We will stay short.
Trading Strategy: Stay short with a stop loss at 5311
Supports: 5160, 4933
Resistances: 5311, 5301

January 18, 2010, Single Stock

Bharti - Bharti made a lower low, but also a higher high. We will stay short.
Trading strategy: Stay short with a stop loss 332
Supports: 311, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a hammer candle on Friday. It looks like 2700 is a strong resistance. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 2464-76, 2355, 2307
Resistances: 2700

RIL - RIL made a higher high and a higher low. We will still watch for RIL to get out of the 1050-1150 band and switch our positions accordingly, but it looks like there might be a break out on the upside.
Trading Strategy: We will go long with a stop loss at 1105, but be prepared to switch to short if RIL falls below 1050.
Supports: 1050, 1011, 901
Resistances: 1150

January 15, 2010, Nifty

On Wednesday made a hammer candle and bounced back from 5170. We will stay short.
Trading Strategy: Stay short with a stop loss at 5301
Supports: 5160, 4933
Resistances: 5311, 5301

January 15, 2010, Single Stock

Bharti - Bharti made a higher high and a higher low. It was a doji candle. We will stay short.
Trading strategy: Stay short with a stop loss 332
Supports: 311, 300, 288.2
Resistances: 332, 348.8

Infosys - On Wednesday 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: 2464-76, 2355, 2307
Resistances: 2700

RIL - RIL continues to make large candles, implying high volatility. We will wait for Reliance to get out of the 1050-1150 band before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1050, 1011, 901
Resistances: 1150

January 13, 2010, Nifty

Nifty broke a support at 5224. It also went below its 5-EMA. It made a lower low, but not a lower high. We will go short.
Trading Strategy: Go short with a stop loss at 5301
Supports: 5160, 4933
Resistances: 5311, 5301

January 13, 2010, Single Stock

Bharti - 324 was broken and we hit our stop loss. The next support is 311 and then 300. We will go short.
Trading strategy: We will go short with a stop loss 332
Supports: 311, 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a sharp up move today. However our stop loss was not hit. We will stay short
Trading Strategy: Stay short, keep stop loss down at 2629.
Supports: 2464-76, 2355, 2307
Resistances: 2629, 2683

RIL - RIL continues to make large candles, implying high volatility. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1050, 1011, 901
Resistances: 1150

January 12, 2010, Nifty

We have been long on the Nifty since Jan 7. On Monday Nifty hit our stop loss and we closed our position. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 5160, 4933
Resistances: 5311, 5299

January 12, 2010, Single Stock

Sorry for not posting on Monday. We are trying start a good way to measure our performance on our calls, hence the missed posts over the last few sessions.
Bharti - Our stop loss was hit on Friday and we closed our position. Monday was a hammer candle. 324 is a good support point and if Bharti does not break it we could see a move up.
Trading strategy: We will go long with a stop loss at 324.
Supports: 324, 300, 288.2
Resistances: 335.1, 348.8

Infosys - Infy continued to make lower lows and we made profits on the short. Stay short.
Trading Strategy: Stay short, move stop loss down to 2629.
Supports: 2464-76, 2355, 2307
Resistances: 2629, 2683

RIL - RIL hit our stop loss today and we closed our position. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1050, 1011, 901
Resistances: 1150

January 08, 2010, Single Stock

Bharti - Bharti made an inside day. We will stay long. But be prepared to switch to short if our stop loss is hit.
Trading strategy: Stay long with stop loss at 326. If 326 is broken, switch to short with a stop loss at 335.1
Supports: 323, 300, 288.2
Resistances: 335.1, 348.8

Infosys - Infy made a lower high and a lower low. We will go short.
Trading Strategy: Go short with a stop loss at 2683.
Supports: 2464-76, 2355, 2307
Resistances: 2683

RIL - RIL made a higher high and a higher low. We will go long.
Trading Strategy: Go long with a stop loss at 1065.
Supports: 1065, 1011, 901
Resistances: 1150

January 07, 2010, Nifty

Nifty made a higher high and a higher low. It broke above 5299, but the move was not convincing. If you did not go long yesterday, go long today.
Trading Strategy: Stay long with a stop loss at 5232.
Supports: 5232, 5160, 4933
Resistances: 5311, 5299

January 07, 2010, Single Stock

Bharti - Bharti made a higher high and a higher low. We will stay long, but move our stop loss up.
Trading strategy: Stay long, move stop loss to 326.
Supports: 323, 300, 288.2
Resistances: 348.8, 357

Infosys - Infy made a higher high and a higher low. It was an engulfing candle. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2464-76, 2355, 2307
Resistances: 2683

RIL - RIL made an inside day. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1070, 1011, 901
Resistances: 1150

January 06, 2010, Nifty

Nifty made a higher high and a higher low. However it was a doji candle. We are nearing a strong resistance at 5299. If Nifty is able to break this we could have further upside. If not we could see a pull back from here.
Trading Strategy: Go short with stop loss at 5299, If Nifty opens above 5299 or breaks 5299 during the day, switch to long.
Supports: 5160, 4933
Resistances: 5299

January 06, 2010, Single Stock

Bharti - Bharti made a lower high, but also a higher low. We will stay long.
Trading strategy: Stay long, with stop loss at 323.
Supports: 323, 300, 288.2
Resistances: 348.8, 357

Infosys - Infy made a higher high and a higher low. However it was a doji candle. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2464-76, 2355, 2307
Resistances: 2631

RIL - RIL made a higher high and a higher low. The volatility in RIL has increased in the last couple of trading sessions. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 1070, 1011, 901
Resistances: 1150

January 05, 2010, Nifty

Nifty has broken out above 5200, but it was a hammer candle. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 5160, 4933
Resistances: 5299

January 05, 2010, Single Stock

Bharti - Bharti made a higher high, but also a higher low. We will stay long.
Trading strategy: Stay long, with stop loss at 323.
Supports: 323, 300, 288.2
Resistances: 348.8, 357

Infosys - Infy made a higher high and a higher low. However it was a doji candle. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2464-76, 2355, 2307
Resistances: 2630

RIL - RIL made a hammer candle yesterday. 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: 1070, 1011, 901
Resistances: 1113, 1120

January 04, 2010, Nifty

Nifty has broken out above 5200, but the move does not look convincing. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 5160, 4933
Resistances: 5299

January 04, 2010, Single Stock

Happy New Year!
Bharti - Bharti continued to make higher highs. We will stay long.
Trading strategy: Stay long, move stop loss up to 323.
Supports: 300, 288.2, 274.4
Resistances: 348.8, 357

Infosys - Infy made higher highs and higher lows. However the charts do not look convincing. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2464-76, 2355, 2307
Resistances: 2614

RIL - RIL made a higher high and a higher low. We will go long with a stop loss at the recent low.
Trading Strategy: Go long with a stop loss at 1070.
Supports: 1070, 1011, 901
Resistances: 1113, 1120