September 11, 2008, Nifty

Nifty closed at 4400 yesterday. Nifty broke both resistances we gave yesterday, however it did not break a strong resistance at 4380-85. We will need to see if this holds today. If not, we could see a big fall all the way to 4300. Asian markets are down a bit and oil is flat. We will have a muted opening.
Trading Strategy: Wait to see if 4380 is broken. If it is then go short with a stop loss at 4426.
Supports:4380-4385, 4292
Resistances: 4426 (strong), 4482