May 26, 2010, Nifty

Nifty continued to fall and we missed it once again. The only positive was that we were not long. We will wait and watch before taking a new position. 4675 will be a crucial support similar to the 4985. After 4985 broke, we saw a 200 point fall. We expect something similar to happen in 4675 is broken.
Trading Strategy: Play for resistance/support breaks or bounces.
Supports: 4700, 4675
Resistances: 5342, 5400