Thursday, October 7, 2010

October 7, 2010, Single Stock

Bharti - Bharti made a lower low and a lower high. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 338, 331, 314
Resistances: 348, 485

Infosys - Infy made a higher high and a higher low. It was a doji candle. We will stay long, but look to move our stop loss up.
Trading: Stay long with stop loss at 3000.
Supports: 2750, 2716, 2668
Resistances: 3000

RIL - RIL made a higher high and a higher low. It is close to its previous high of 1049 on Sep 21. A move above this would be a bullish signal. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 952, 922, 900
Resistances: 994, 1100, 1150

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