November 30, 2009, Nifty

Nifty made a lower high and a lower low. However it was a hammer candle. We feel there might be a pull back, but expect a deep correction to set in later in the week. Hence we will not move our stop loss down.
Trading Strategy: Stay short with a stop loss at 5113
Supports: 4933, 4860
Resistances: 5113, 5182