July 22, 2009, Nifty

Nifty made a higher high and a higher low. However the resistance at 4510 was too strong to break. We will see if Nifty can make another attempt on 4510 in the next few sessions, or if it well settle into a down trend. We will stay long but move our stop loss up.
Trading Strategy: Stay long, move stop loss to 4437
Supports: 4437, 4372, 3919
Resistances: 4509-10, 4680