Wednesday, May 5, 2010

May 5, 2010, Single Stock

Bharti - Bharti made a lower low and a lower high. We will stay short.
Trading strategy: Stay short with a stop loss at 302.
Supports: 292, 269
Resistances: 302, 321

Infosys - Infy made a lower high and a lower low. We will go short with a stop loss at the recent high.
Trading Strategy: Go short with a stop loss at 2759
Supports: 2693, 2636
Resistances: 2790, 2825, 2870

RIL - RIL made a lower low and a higher high. It was also a doji candle. The intra-day low was just above our stop loss. We will stay long, but keep stop losses strict.
Trading Strategy: Stay long with a stop loss at 1012.
Supports: 1050, 975
Resistances: 1150

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