Friday, October 8, 2010

October 8, 2010, Single Stock

Bharti - Bharti made a higher low and a higher high. However it was a doji candle. 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 lower high and a lower low. It was a sharp fall after the doji candle. This is a bearish indicator. We will stay long, but keep stop losses strict and look to exit.
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 also moved above the previous high of 1049 and Sep 21. We will wait for a pull back to go long.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 952, 922, 900
Resistances: 994, 1100, 1150

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