Nifty Swing Trading 3rd Oct 2012

Look at the Daily Chart below





Break Out/Down (BO / BD) from the highlighted area will give a good 50 to 100 points move in Nifty within days to come. I would trade the BO / BD with 20-25 point stop-loss which gives a minimum RR ratio of 1:2.
My bias, Nifty will correct but, I might be wrong