Monday, January 18, 2010

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

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