January 27, 2010, Nifty

Nifty made another hammer candle on Monday, but a smaller one. This is the second successive hammer. We will stay short, but move our stop loss down. The Nifty looks likely to pull back after the recent fall. Keep stop losses strict.
Trading Strategy: Stay short, move stop loss down to 5094.
Supports: 4955, 4925-44, 4807
Resistances: 5133, 5182, 5215