August 13 2008 - First Post

Hi all. This is my first post. I will be doing some technical analysis of the NSE nifty for a start and later might add individual stocks.
Today's Analysis
August 12 red candle almost fully encloses August 11 green candle. This indicates a reversal in the intermediate up trend which started on 16 July
Global ques are weak this morning.

Trading strategy: Short nifty with strict stop losses at the resistances

Resistances: 4649, 4679
Support: 4533, 4464