October 9, 2009, Nifty

Nifty made an inside day. This shows clear indecision in the market. We now expect a sharp move in the Nifty. This could be on the downside, so be prepared to switch to short if resistances are broken.
Trading Strategy: Stay long, but be prepared to switch to short if support is broken.
Supports: 4921-4904, 4783, 4580,
Resistances: 5111, 5167