September 24, 2009, Nifty

Nifty made a lower high and a lower low. Our stop loss was not hit, however we were whipsawed. We will continue to trade on breaks of supports/resistances.

Trading Strategy: Stay long, move stop loss to 4932, If 4932 is broken close the long and switch to short.
Supports: 4932, 4783, 4580, 4421
Resistances: 5036, 5167