June 23, 2010, Nifty

Nifty made a lower high but a higher low yesterday. We will stay long. Nifty was unable to hold above 5342 and pulled back. We will watch the next few sessions for signs that the rally is ending. We will move our stop loss up, but keep stop losses strict.
Trading Strategy: Stay long, move stop loss up to 5302.
Supports: 5202, 5100, 4960-4985
Resistances: 5342, 5400