October 28, 2009, Nifty

Today is Bill Gates' birthday so we are a little late. The market has opened and Nifty is already below 4800.

Nifty made a lower low, and a lower high yesterday. As predicted it was a sharp move. We will move our stop loss down to yesterday's high.
Trading Strategy: Stay short, move stop loss to 4971.
Supports: 4783-4800, 4580,
Resistances: 5077, 5182, 5299