Monday, May 2, 2011

May 02, 2011, Single Stock

Bharti - Bharti fell sharply and made a lower high and a lower low. We will stay long and look to move our sotp loss up.
Trading Strategy: Stay long with stop loss at 365.
Supports: 371, 365, 345-51
Resistances:377

Infosys - Infy fell sharply and made a lower high and a lower low. We will wait and watch before taking a new position.
Trading: Play for resistance/support breaks or bounces.
Supports: 3110, 2948, 2904
Resistances: 3162, 3238

RIL - RIL made an inside day and this could signal a change in the down tren. We will wait and watch before taking a new position.
Trading: Play for resistance/support breaks or bounces.
Supports: 964, 954
Resistances: 1100, 1125

SBIN - SBI fell sharply and made a lower high and a lower low. We will wait and watch before taking a new position.
Trading: Play for resistance/support breaks or bounces.
Resistances: 3325, 3515
Supports: 2759, 2520, 2463-76

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