Wednesday, May 26, 2010

May 26, 2010, Single Stock

Bharti - Bharti did not break our stop loss at 272. It fell and bounced back. 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 over the last few days. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 2458-77, 2329
Resistances: 2677, 2708

RIL - RIL made a lower high and a lower low. We will wait and watch before taking a new position. The support at 975 seems to be holding.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 975, 960
Resistances: 1100, 1150

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