Thursday, July 21, 2011

July 21, 2011, Single Stock

Bharti - Bharti made a lower high and a higher low. We will stay long and keep stop losses strict.
Trading Strategy: Stay long, with stop loss at 378.
Supports: 367, 345-51
Resistances:379, 390

Infosys - Infy made a higher high and a higher low. We will wait and watch before taking a new position.
Trading: Play for resistance/support breaks or bounces.
Supports: 2926, 2736
Resistances: 3162, 3238

RIL - RIL made a higher and a higher low. We will go long with a stop loss at the recent low.
Trading: Go long with a stop loss at 840.
Supports: 840, 940, 964
Resistances: 1100, 1125

SBIN - SBI made an engulfing candle. We will wait and watch before taking a new position.
Trading: Play for resistance/support breaks or bounces.
Resistances: 2515, 3325, 3515
Supports: 2123-38

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