Thursday, July 29, 2010

July 29, 2010, Single Stock

Bharti - Bharti made a higher low but a lower high. It was a hammer candle, indicating a possible end to the uptrend. We will stay long.
Trading Strategy: Stay long move stop loss up to 302
Supports: 292, 282, 264, 260
Resistances: 343

Infosys - Infy made a higher low and a higher high. We will stay long.
Trading: Stay long, a move stop loss to 2727.
Supports: 2716, 2668, 2558
Resistances: 2800,2905

RIL - RIL made a lower low and a higher high. It was a big candle indicating increasing volatility in RIL. Support at 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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