December 31, 2008, Nifty

Nifty clearly broke its downtrend and is setup for an uptrend. We will follow the uptrend with strict stop losses. Asia is up this morning. Nifty could open a touch up.

Trading strategy: Go long with stop loss at 2899
Supports: 2899-2919, 2812
Resistances: 3110, 3240