Monday, January 24, 2011

January 24, 2011, Single Stock

Bharti - Bharti fell sharply making a lower low and a lower high. We will stay long and keep stop losses strict.
Trading Strategy: Stay long, with stop loss up at 330.
Supports: 318-20, 303
Resistances: 340, 377

Infosys - Infy made an inside day indicating a change in its trend. We will wait and watch before taking a new position.
Trading: Play for resistance/support breaks or bounces.
Supports: 2948, 2716, 2668
Resistances: 3162, 3238

RIL - RIL made a higher high and a higher low after the hammer candle. We will go long with a stop loss at the recent low.
Trading: Go long with a stop loss at 954,
Supports: 998, 952, 922
Resistances: 1100, 1125

SBIN - SBI made a higher high and a higher low. We will wait and watch before taking a new position.
Trading Strategy: Play for resistance/support breaks or bounces
Resistances: 3325, 3515
Supports: 2536, 2656, 2775

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