Friday, May 21, 2010

May 21, 2010, Single Stock

Bharti - Bharti did not break our stop loss at 272 and continued to fall. We will keep our stop losses strict, but stay short.
Trading strategy: Stay short, with stop loss at 272.
Supports: 254, 269
Resistances: 302, 321

Infosys - Infy fell sharply along with the rest of the market. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2607, 2551
Resistances: 2708, 2759

RIL - RIL made a lower high and a lower low. We hit our stop loss and closed our position. We will wait and watch before taking a new position.
Trading Strategy: Stay long with a stop loss at 1003
Supports: 1003, 1050, 975
Resistances: 1100, 1150

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