November 20, 2008, Nifty

Nifty continues its strong downward trend. Asia is down this morning. We expect the Nifty will open down. Support of 2630 was taken out yesterday. The next support is 2524. We are getting closer to the Oct 27 lows. We will watch to see if the Nifty can rebound from there.

Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2524 , 2257
Resistances: 2749, 2808