October 7, 2008, Nifty

The Dow Jones was down 700 points at one point last night, but recovered to close at 9955 just below the 10000 mark. Asian markets are down today. Nifty will open gap down, but there is a strong possibility of a recovery during the day.

Trading Strategy: Look for a bounce from supports or a break of supports. 3555 will be an important number to watch towards the end of the day.
Supports: 3555, 3300
Resistances: 3774, 3823