July 29, 2010, Nifty

The market opened a touch down, but is now flat.
It looks like the rally is losing steam. We will stay long, but keep stop losses strict. Nifty could hit the stop loss over the next few sessions.
Trading Strategy: Stay long with stop loss at 5354.
Supports: 5202, 5100, 4960-4985
Resistances: 5342-67, 5400, 5478