September 28, 2011, Nifty

The Nifty made a higher high and a higher low. We will wait and watch before taking a new position. The Nifty breached 4900, but did not go below previous low of 4720. Trading Strategy: Play for resistance/support breaks or bounces.
Resistances: 4966, 5169, 5608,
Supports: 4900, 4720