Tuesday, July 20, 2010

July 20, 2010, Single Stock

Bharti - Bharti made a higher high and a higher low. The support at 292 was not broken, so we could see a new high. We will stay long.
Trading Strategy: Stay long, with stop loss at 282.
Supports: 264, 260, 254
Resistances: 343

Infosys - Infy made a lower high and a lower low. If you went long yesterday, keep stop loss at 2716. 2716 is a critical support. We will switch to short if 2716 is broken.
Trading: Go long, with a stop loss at 2716.
Supports: 2716, 2668, 2558
Resistances: 2800,2905

RIL - RIL made a lower high and a lower low. We will look for a strong move above 1100 before going long. 1051 and 1040 are supports.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 1040-1051, 975, 960
Resistances: 1100, 1150

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