July 23, 2009, Nifty

Nifty made a higher high but also a higher low. The resistance at 4510 was broken, but Nifty was not able to hold above it. We hit our stop loss and booked profits.
Trading Strategy: Wait and watch before taking a position.
Supports: 4365-72, 4143
Resistances: 4509-10, 4680