June 22, 2010, Nifty

Nifty made a higher high and a higher low yesterday. We will stay long. Nifty broke past 5342 as expected (since it was able to hold above 5213). We could see a pull back from here as 5342 was an important resistance. However if Nifty is able to hold above 5342 for a few sessions, we could see a move above 5400. We will move our stop loss up.
Trading Strategy: Stay long, move stop loss up to 5202.
Supports: 5202, 5100, 4960-4985
Resistances: 5342, 5400