TREND WATCH------
• Last swing high is at 5029. (Higher high)
• Last swing low is at 4786. (Lower low)
• In the medium term,
--- Nifty is again in down trend (from 17th May) with targets of 4930**, 4860**, 4810**.
--- The down trend will ‘terminate’ above 5105.
• In the short term,
• --- Nifty is in corrective up move (from 26th May) with targets of 4910**, 4940**, 4980**. And with revision (from 28th May) in targets of 5080**, 5110**, 5150.
---The up move will ‘terminate’ below 4786.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
• Nifty traded in small range of 60 points between 5038 and 5098. (Range contraction).
• Nifty gave its best closing in last 11 days.
• Target of 5110 almost achieved now.
