December 2, 2008, Nifty

We hit our stop loss yesterday. 2690, we ended up with about 4% gain. Dow crashed overnight and we expect Nifty to open gap down today. In the recent rally Nifty made a lower high that the previous high of 3148. We now look to see if it can hold above 2630-50, if not at least above 2502.

Trading strategy: Play for supports/resistances breaks or bounces
Supports: 2630-50, 2502
Resistances: 2711, 2783