Friday, October 22, 2010

October 22, 2010, Single Stock

Bharti - Bharti jumped sharply of its low. We will go long with a stop loss at the recent low.
Trading Strategy: Go long with a stop loss at 314
Supports: 314-8, 308
Resistances: 348-52, 377

Infosys - Infy made a lower low and a lower high. We will wait and watch before taking a new position.
Trading: Play for resistance/support breaks or bounces
Supports: 2750, 2716, 2668
Resistances: 3162, 3238

RIL - RIL made a higher high and a higher low. The sharp upmove is a positive signal, but we will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 952, 922, 900
Resistances: 1100, 1150

SBIN - SBI made a higher high and a higher low. It rose sharply after a doji candle. It is a bullish signal but we will stay short.
Trading Strategy: Stay short with a stop loss at 3325.
Resistances: 3325
Supports: 3043

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