Thursday, November 4, 2010

November 04, 2010, Single Stock

Bharti - Bharti made a lower low and a lower high. We will stay long, but keep stop losses strict.
Trading Strategy: Stay long with a stop loss at 314
Supports: 314-8, 308
Resistances: 348-52, 377

Infosys - Infy made a higher low and a higher high. We will stay long.
Trading:Stay long with a stop loss at 2948.
Supports: 2948, 2716, 2668
Resistances: 3162, 3238

RIL - RIL fell sharply making 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: 952, 922, 900
Resistances: 1100, 1150

SBIN - SBI made a higher high and a higher low. It reose sharply as predicted and we hit our stop loss and closed our position. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks/bounces.
Resistances: 3325
Supports: 3043

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