August 6, 2009, Nifty

Nifty made a lower high and a lower low. It was also a doji candle. We hit our stop loss and booked our profits. We will wait and watch for a clearer signal before initiating a position.
Trading Strategy: Play for resistances/supports breaks or bounces.
Supports: 4657, 4421, 4380
Resistances: 4693, 4731-46