Tuesday, January 26, 2010

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

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