August 12, 2009, Nifty

Nifty made a lower low and a lower high. However the lower low was lower only by a single point. It looks like Nifty is finding some support from 4400. We will stay short but move our stop loss down to yesterday's high.
Trading Strategy: Stay short, move stop loss to 4511.
Supports: 4421, 4380-4400
Resistances: 4583, 4693, 4731-46