Suspect Upmove

Market moved up yesterday against our expectations and Stop loss triggered in our reliance industries call. I am attaching RIL chart to show how RIL exactly reacted from the upper trendline and stopped moving there.

We will watch this stock today. Though market moved up, the upmove looks suspect. Without lack of any triggers, market seem to be discounting every bad news...is this a bull trap?? Time will tell us. Till trend becomes clearer, we will continue to trade lightly on an intraday basis only.

INTRADAY CALL
ONGC - SHORT around 958, Target 944, 928 SL - 970 (ONGC looks very bearish on charts however its almost in oversold territory now. So wait for upmove and short at higher level)
ORCHID CHEMICALS - CMP - 277 BUY target 282, 288, 299 SL - 273. (282 is strong resistance for orchid. Above 282 this stock can fly)
TCS - CMP 971 BUY targets 995, 1003, 1027 SL - 950

FOLLOW UP on yesterday's calls
RIL hit our stop loss, Andhra bank did not come to our shorting price so we did not trade that counter. Bajaj auto data had some errors (I guess an issue with the data i had downloaded in ami) so we skipped that too.