July 08, 2010, Nifty

Nifty has just opened a gap up.
Nifty made a higher high and a higher low yesterday. Out stop loss of 5313 is not yet hit. We will keep stop losses strict and be prepared to switch to long.
Trading Strategy: Stay short, with stop loss at 5313.
Supports: 5202, 5100, 4960-4985
Resistances: 5342-67, 5400