September 12, 2008, Nifty

With yesterday's move the short term uptrend that started on 21 August is now over. Nifty close was near our support of 4292. Oil is down, Asia is up, we should up today. Look for 4214 as the next support. If that is not broken we could see a bounce back.
Trading Strategy: With our near perfect call yesterday we have recovered our losses of Tuesday and are now in the green for the week. Book profits in your shorts. Wait and watch.
Supports: 4214,4259
Resistances: 4296, 4360-4371