Thursday, February 11, 2010

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

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