Tuesday, November 9, 2010

November 09, 2010, Single Stock

Bharti - Bharti made a lower low and a higher high. We will stay long and look to move our stop loss up.
Trading Strategy: Stay long with a stop loss at 314
Supports: 314-8, 308
Resistances: 348-52, 377

Infosys - Infy fell sharply, making a lower low and a lower high. However our stop loss was not hit. We will stay long.
Trading:Stay long with a stop loss at 2948.
Supports: 2948, 2716, 2668
Resistances: 3162, 3238

RIL - RIL made a higher high and a higher low. 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: 952, 922, 900
Resistances: 1100, 1150

SBIN - SBI made a higher high and a lower low. It was a engulfing candle. We could see a prolonged down move now. We will wait and watch before talking a new position.
Trading Strategy: Play for resistance/support breaks/bounces.
Resistances: 3325
Supports: 3043

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