Wednesday, February 17, 2010

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

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