January 25, 2010, Nifty

As predicted Nifty fell again on Friday. It was a hammer candle which took support from above 4933. We will wait and watch if that support will hold or if Nifty will fall further. We will stay short, but move our stop loss down.
Trading Strategy: Stay short, move stop loss down to 5133.
Supports: 4925-44, 4807
Resistances: 5182, 5215, 5311