November 19, 2008, Nifty

Nifty broke the support of 2685, but closed just below it. The next strong support is 2630. If Nifty can bounce back from there it will be a positive signal. Asia is flat to down this morning. We expect the Nifty will have a flat or touch up opening.
Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2630, 2524
Resistances: 2753, 2808