February 26, 2010, Nifty

The Nifty made another lower high and a higher low. It was another doji candle. It looks like we could expect a major move on Budget day. We will wait for a move above 4930 before going long. On the short side we will look for a break of 4807
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 26, 2010, Single Stock

Bharti - Bharti made a doji candle. We now expect a major move in Bharti. We will stay long. Keep stop losses strict and be prepared to switch to short.
Trading strategy: Stay long with a stop loss at 269. Switch to short if 269 is broken.
Supports: 269, 241.5
Resistances: 332, 348.8

Infosys - Infy moved up sharply to make a higher high and a lower low. We will go long.
Trading Strategy: Go long with a stop loss at 2551
Supports: 2458, 2415, 2307-29
Resistances: 2700

RIL - RIL made a lower low and an equal high. We will stay short.
Trading Strategy: Stay short with a stop loss at 1000
Supports: 975, 901
Resistances: 1046, 1150

February 25, 2010, Nifty

The Nifty made a lower high and a higher low. It was almost a doji candle. With two successive doji's we can now expect a major move from the Nifty. We will wait for a move above 4930 before going long.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 25, 2010, Single Stock

Bharti - Bharti made an inside day. We now expect a major move in Bharti. We will stay long. Keep stop losses strict and be prepared to switch to short.
Trading strategy: Stay long with a stop loss at 269. Switch to short if 269 is broken.
Supports: 269, 241.5
Resistances: 332, 348.8

Infosys - Infy made a higher high and a lower low. It was also a doji candle. We will wait and watch before taking a new position.
Trading Strategy:
Supports: 2458, 2415, 2307-29
Resistances: 2514, 2555-66, 2700

RIL - RIL made a lower low and a higher high. We will stay short.
Trading Strategy: Stay short with a stop loss at 1000
Supports: 975, 901
Resistances: 1046, 1150

February 24, 2010, Nifty

The Nifty made a lower high and a lower low. We will wait for a move above 4930 before going long.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 24, 2010, Single Stock

Bharti - Bharti made a lower low and a lower high. We will stay long. Keep stop losses strict.
Trading strategy: Stay long with a stop loss at 269
Supports: 269, 241.5
Resistances: 332, 348.8

Infosys - Infy made a lower high and a lower low. We will wait and watch before taking a new position.
Trading Strategy:
Supports: 2458, 2415, 2307-29
Resistances: 2514, 2555-66, 2700

RIL - RIL made a doji candle. It was a lower low and a lower high. We will stay short.
Trading Strategy: Stay short with a stop loss at 1000
Supports: 975, 901
Resistances: 1046, 1150

February 23, 2010, Nifty

The Nifty made a higher high and a higher low. However it was a doji candle. We will wait for a move above 4930 before going long.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 23, 2010, Single Stock

Bharti - Bharti made a higher low, but a lower high. We will stay long. Keep stop losses strict.
Trading strategy: Stay long with a stop loss at 269
Supports: 269, 241.5
Resistances: 332, 348.8

Infosys - Infy made higher high and a higher low. We were short and hit our stop loss and closed our position. We will wait and watch before taking a new position.
Trading Strategy:
Supports: 2458, 2415, 2307-29
Resistances: 2514, 2555-66, 2700

RIL - RIL broke the support at 975. We will go short.
Trading Strategy: Go short with a stop loss at 1000
Supports: 975, 901
Resistances: 1046, 1150

February 22, 2010, Nifty

The Nifty made a lower high and a higher low. It just 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: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 22, 2010, Single Stock

Bharti - Bharti made a lower low and a lower high. It was also a doji candle. We will stay long. Keep stop losses strict.
Trading strategy: Go long with a stop loss at 269
Supports: 269, 241.5
Resistances: 332, 348.8

Infosys - Infy made lower high and a lower low. We will go short.
Trading Strategy: If you are long, close the long and go short with a stop loss at 2566.
Supports: 2458, 2415, 2307-29
Resistances: 2514, 2555-66, 2700

RIL - RIL came close to breaking below the support of 975, but it did not. We will look for a break/bounce on this support. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 975, 901
Resistances: 1046, 1150

February 19, 2010, Nifty

The Nifty made a lower high and a higher low. We will stay long but move our stop loss up.
Trading Strategy: Stay long with a stop loss at 4807.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 19, 2010, Single Stock

Bharti - Bharti made a higher high and higher low. We will stay long. Keep stop losses strict.
Trading strategy: Go long with a stop loss at 269
Supports: 269, 241.5
Resistances: 332, 348.8

Infosys - Infy made lower high and a lower low. We will close our position and switch to short.
Trading Strategy: Close the long and go short with a stop loss at 2514. If Infy opens above 2514, stay long.
Supports: 2458, 2415, 2307-29
Resistances: 2514, 2555, 2700

RIL - We missed out on the short, by keeping our stop loss too strict. RIL fell sharply today, but we did not have a position and did not benefit. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 975, 901
Resistances: 1046, 1150

February 18, 2010, Nifty

The Nifty made a higher high and a higher low. We will stay long but move our stop loss up.
Trading Strategy: Stay long with a stop loss at 4780.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 18, 2010, Single Stock

Bharti - Bharti made an inside day indicating a possible trend reversal. We will take a risky long position. Keep stop losses strict.
Trading strategy: Go long with a stop loss at 269
Supports: 269, 241.5
Resistances: 332, 348.8

Infosys - Infy 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 up to 2488.
Supports: 2458, 2415, 2307-29
Resistances: 2555, 2700

RIL - We switched positions prematurely. However we did not lose on the short as RIL went above 1027 today. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 975, 901
Resistances: 1046, 1150

February 17, 2010, Nifty

The Nifty made a higher high and a higher low. We will stay long.
Trading Strategy: Stay long with a stop loss at 4748.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 17, 2010, Single Stock

Bharti - Bharti fell sharply again on Tuesday. Bharti is now at its 12m low. The next support is at the Oct-08 lows of 241.5. We have missed most of the fall. We will wait and watch before taking a new position.
Trading strategy: Play for resistance/support breaks or bounces
Supports: 274.4, 269, 241.5
Resistances: 332, 348.8

Infosys - Infy 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 up to 2470.
Supports: 2415, 2307-29
Resistances: 2555, 2700

RIL - RIL made a lower low and a lower high. We will switch our positions.
Trading Strategy: Take profit on the long and switch to short with a stop loss at 1027
Supports: 975, 901
Resistances: 1046, 1150

February 16, 2010, Nifty

The Nifty made a higher high and a higher low. We will stay long, but move our stop loss up.
Trading Strategy: Stay long with a stop loss at 4748.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 16, 2010, Single Stock

Bharti - Bharti fell sharply on Monday. We missed the fall as we did not have a conclusive position. We will wait and watch before taking a new position.
Trading strategy: Play for resistance/support breaks or bounces
Supports: 288.2, 274.4
Resistances: 332, 348.8

Infosys - Infy 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 up to 2448.
Supports: 2415, 2307-29
Resistances: 2555, 2700

RIL - RIL broke out of its trading range and made a higher high and a higher low. We will stay long.
Trading Strategy: Stay long with a stop loss at 975
Supports: 975, 901
Resistances: 1046, 1150

February 11, 2010, Nifty

The Nifty made a higher high and a higher low. We stay long.
Trading Strategy: Stay long with a stop loss at 4675.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 11, 2010, Single Stock

Bharti - Bharti made a higher high, but a lower low. It was also a doji candle. We will wait and watch before taking a new position.
Trading strategy: Play for resistance/support breaks or bounces
Supports: 300, 288.2
Resistances: 332, 348.8

Infosys - Infy 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 up to 2394.
Supports: 2415, 2307-29
Resistances: 2555, 2700

RIL - RIL made a higher high and a higher low. However the highs and lows were not different from previous day's highs and lows. RIL looks like it is trading in a range. We will stay long.
Trading Strategy: Stay long with a stop loss at 975
Supports: 975, 901
Resistances: 1046, 1150

February 10, 2010, Nifty

The Nifty 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 4675.
Supports: 4807-14, 4766, 4675
Resistances: 4945, 5133

February 10, 2010, Single Stock

Bharti - Bharti made a higher high and a higher low. 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: 300, 288.2
Resistances: 332, 348.8

Infosys - 2470 was broken and we switched to long. Keep stop loss at the recent low.
Trading Strategy: If you are not already long, go long. Keep stop loss at 2329.
Supports: 2415, 2307-29
Resistances: 2555, 2700

RIL - RIL made a doji candle. RIL looks like it is trading in a range. We will stay long.
Trading Strategy: Stay long with a stop loss at 975
Supports: 975, 901
Resistances: 1046, 1150

February 9, 2010, Nifty

The Nifty made a doji candle. This implies indecision in the market. We will wait and watch for confirmation signals before taking a position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4807-14, 4766, 4539
Resistances: 4945, 5133

February 9, 2010, Single Stock

Bharti - Bharti made a higher high and a higher low. We will stay short, but be prepared to close our position.
Trading strategy: Stay short, keep stop loss at 316.
Supports: 300, 288.2
Resistances: 315.7, 332, 348.8

Infosys - Infy made a higher high, but also a lower low. The trend looks like it is reversing. We will stay short and switch to long, once our stop loss is hit.
Trading Strategy: Stay short, move stop loss down to 2470. If 2470 is broken, switch to long.
Supports: 2415, 2307
Resistances: 2555, 2700

RIL - RIL made a higher high and a higher low. We will stay long.
Trading Strategy: Stay long with a stop loss at 975
Supports: 975, 901
Resistances: 1046, 1150

February 8, 2010, Nifty

We switched positions too fast and lost out on both long and short side last week. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4807-14, 4766, 4539
Resistances: 4945, 5133

February 8, 2010, Single Stock

Bharti - Bharti made a lower low and a lower high. It was also a doji candle. We will stay short, but be prepared to close our position.
Trading strategy: Stay short, move stop loss down to 316.
Supports: 300, 288.2
Resistances: 315.7, 332, 348.8

Infosys - Infy made an inside day. It looks like we could see the trend reversing, bu we will stay short.
Trading Strategy: Stay short, move stop loss down to 2470.
Supports: 2415, 2307
Resistances: 2555, 2700

RIL - RIL made a lower high and a higher low. The candles indicated a possible trend reversal in RIL. We will go long, with a strict stop loss.
Trading Strategy: Go long with a stop loss at 975
Supports: 975, 901
Resistances: 1046, 1150

February 5, 2010, Nifty

Nifty made an inside day showing more indecision. We will stay long, but keep nimble and be prepared to switch to short.
Trading Strategy: Stay long, with a stop loss at 4814. Switch to short if 4766 is broken.
Supports: 4807-14, 4766, 4539
Resistances: 4945, 5133

February 5, 2010, Single Stock

Bharti - Bharti 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 316.
Supports: 300, 288.2
Resistances: 315.7, 332, 348.8

Infosys - Infy made a lower low and a lower high. We will stay short.
Trading Strategy: Stay short, keep stop loss at 2530.
Supports: 2415, 2307
Resistances: 2555, 2700

RIL - RIL 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: 990-1018, 901
Resistances: 1046, 1150

February 4, 2010, Nifty

Nifty staged a smart recovery today and we were vindicated in sticking to our long as per pure technicals. With the Nifty and all three individual stocks we cover, all showing reversal signals, the Nifty could be quite volatile. We will stay long.
Trading Strategy: Stay long, move stop loss to 4814.
Supports: 4807-14, 4766, 4539
Resistances: 4945, 5133

February 4, 2010, Single Stock

Bharti - Bharti made a lower low and a lower high. It was also a doji candle. We will stay short.
Trading strategy: Stay short, keep stop loss at 328.
Supports: 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made an inside day indicating a possible trend reversal. Keep stop losses strict. We will stay short.
Trading Strategy: Stay short, keep stop loss at 2530.
Supports: 2415, 2307
Resistances: 2555, 2700

RIL - RIL made a hammer as well as an inside day. This indicates a strong possibility of a trend reversal. We will stay long, the up move seems to look more possible now.
Trading Strategy: Stay long with a stop loss at 1018
Supports: 990-1018, 901
Resistances: 1046, 1150

February 3, 2010, Nifty

Nifty rose in the first trade, but subsequently failed to go above 4945. Technically our stop loss was hit and we should have switched to long. However in a true sense, Nifty did not really break 4945. Based on Fibonacci retracement of the fall from 5138 to 4807, the Nifty could retrace all the way to 4600.
Trading Strategy: If you are still short, then move stop loss down to to 4894. If you switched to long, then keep stop loss at 4766. If 4766 is broken, switch to short. We will be true to our analysis and be on the long side.
Supports: 4807, 4766, 4539
Resistances: 4945, 5133

February 3, 2010, Single Stock

Bharti - Bharti made a higher hing and higher high. We will stay short, but look to close our position.
Trading strategy: Stay short, keep stop loss at 328.
Supports: 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a higher low but also a lower high. Keep stop losses strict. We will stay short.
Trading Strategy: Stay short, keep stop loss at 2530.
Supports: 2415, 2307
Resistances: 2555, 2700

RIL - RIL made a higher high, but a lower low. We will stay long, though we are not yet convinced of an up-move. Keep stop losses strict.
Trading Strategy: Stay long with a stop loss at 1018
Supports: 990-1018, 901
Resistances: 1046, 1150

February 2, 2010, Nifty

Nifty made a higher high and a higher low. It was also a doji candle. We will stay short, but be prepared to switch to long if our stop loss is hit.
Trading Strategy: Stay short, with stop loss at 4945. If 4945 is broken, switch to long with a stop loss at 4766
Supports: 4807, 4766, 4539
Resistances: 4945, 5133

February 2, 2010, Single Stock

Bharti - Bharti made a higher low but also lower high. We will stay short, but move our stop loss down.
Trading strategy: Stay short, move stop loss down to 328.
Supports: 300, 288.2
Resistances: 332, 348.8

Infosys - Infy made a lower low but also higher high. It was the second successive doji candle. Keep stop losses strict. We will stay short, but move our stop loss down.
Trading Strategy: Stay short, move stop loss down to 2530.
Supports: 2415, 2307
Resistances: 2555, 2700

RIL - RIL made a higher high and a higher low. We will go long.
Trading Strategy: Go long with a stop loss at 1018
Supports: 990-1018, 901
Resistances: 1046, 1150