November 21, 2008, Nifty

Nifty continues its strong downward trend. Asia is down this morning. We expect the Nifty will open touch down. Support of 2524 was taken out yesterday, however Nifty found support at the psychological 2500 level. If Nifty holds today above 2500, we could see a rally for a few days.

Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2488 , 2257
Resistances: 2668, 2808