July 05, 2010, Nifty

Nifty made a lower low and a lower high. However it was a relatively small candle, indicating that the volatility might be coming to an end. This could also be the sign for a reversal in the down trend later this week.
We will stay short.
Trading Strategy: Stay short, with stop loss at 5348.
Supports: 5202, 5100, 4960-4985
Resistances: 5342-67, 5400