July 24, 2009, Nifty

Nifty made a lower high but also a higher low. The Nifty is now in a range between 4380 and 4558. We will take a position on a break out on either side. The bias is on the positive side since 4510 was taken out yesterday. We will take a risk long position.
Trading Strategy: Go long with stop loss at 4380.
Supports: 4365-80, 4143
Resistances: 4532, 4680