• Last swing high is at 5213. (higher high)
• 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 5213.
• In the short term,
--- Nifty is 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 traded below 4984, so medium term trend is now down trend.
• Long lower shadow formed today which is bullish.
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