• Last swing high is at 5213. (higher high)
• In the medium term,
--- Nifty is in down trend (from 4th May) with targets of 5120**, 5040**, 4980**. Below 4984, Nifty will be again in down trend with targets of 4930, 4860, 4810.
--- The down trend will ‘terminate’ above 5213.
• In the short term,
--- Nifty is now in corrective down move (from 14th May) with targets 5080**, 5030**, 4980**.
---The down move will terminate above 5213.
(Targets are +/- 20 points, ** means target achieved)
***SP.NOTES**
• Nifty closed below 5099, so short term uptrend is now terminated.
• Swing high of 5213 formed now which is higher then previous swing high of 5207.
***NOTES FOR MAY 18**
--Long lower shadow formed today which is very bullish.
--Nifty traded below 4984 but does not closed below 4984.but nifty is still in medium term down trend.
