• Last swing high is at 5382. (Lower high)
• In the medium term,
--- Nifty is again in up trend (from 29th March.) with targets of 5450, 5550, 5700.
--- The up trend will ‘terminate’ below 5187.
• In the short term,
--- Nifty is now in down trend (from 15th April) with targets of 5260**, 5230, 5200.
---The down move will terminate above 5382.
(Targets are +/- 20 points, ** means target achieved)
--all taregts for short term corrective down move achieved today.
--Nifty closed below last swing low of 5290. so nifty is now in short term down trend.
I have no charting software so it will be difficult to post the charts here.
I will try to upload charts from chart-nexus or i-chart when ever it is possible for me.
Yahoo recently changed the colours in the chart. so I will correct it in the week end. and do read about bollinger band from the link given at the blog.
I will also try to put details about the system here in week end if time permits me.