Tuesday, January 11, 2011

January 11, 2011, Single Stock

Bharti - Bharti made a higher low, but a lower high. The stock held up in a falling market. We will stay long and keep our stop loses strict.
Trading Strategy: Stay long, with stop loss up at 330.
Supports: 318-20, 303
Resistances: 340, 377

Infosys - Infy made a lower low and a lower high. However the stock held up in a falling market. We will stay long and keep our stop loses strict.
Trading:Stay long, with stop loss at 3225 (61% retracement).
Supports: 2948, 2716, 2668
Resistances: 3162, 3238

RIL - RIL fell sharply and made a lower low and a lower high. Our stop loss was hit and we closed our position.
Trading: Play for resistance/support breaks or bounces.
Supports: 952, 922, 900
Resistances: 1100, 1125

SBIN - SBI fell further and 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.
Resistances: 3325, 3515
Supports: 2656, 2775, 2737

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