Tuesday, December 14, 2010

December 14, 2010, Single Stock

Bharti - Bharti made a lower low and a lower high. It was also a doji candle. We will look to see if the downtrend is reversed.
Trading Strategy: Play for resistance/support breaks or bounces
Supports: 318-20, 303
Resistances: 340, 377

Infosys - Infy made a lower high and a lower low. It was also a doji candle. We will stay long, but keep stop losses strict.
Trading:Stay long, with stop loss at 3012.
Supports: 2948, 2716, 2668
Resistances: 3162, 3238

RIL - RIL rose sharply and confirmed a possible up trend. We will go long with a stop loss at the recent low.
Trading:Go long with a stop loss at 978.
Supports: 952, 922, 900
Resistances: 1100, 1125

SBIN - SBI made a higher high and a higher low. It was also a doji candle. We will wait for a confirmation of the uptrend before going long.
Trading Strategy: We will wait and watch before taking a new position.
Resistances: 3325, 3515
Supports: 2775, 2737

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