Tuesday, February 9, 2010

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

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