June 15, 2010, Nifty

Nifty moved up sharply again on Monday. We will stay long and move our stop loss up. Nifty made an attempt on 5213, but was not able to break out. We will see if Nifty is able to break out above 5213 over the next couple of sessions. If not we could see range-bounce trading between 4960 and 5213.
Trading Strategy: Stay long, move stop loss up to 5079.
Supports: 4960-4985, 4700
Resistances: 5213, 5342