TREND WATCH------
• Last swing high is at 5029. (Higher high)
• Last swing low is at 4842. (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 was in corrective up move (from 24th May) which is terminated now.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
• Nifty traded in big range of 160 points between 4786 and 4946. (Range expansion).
• Short term corrective up move is terminated now as Nifty traded and closed below swing low of 4842.
• Swing high of 5029 formed now which is higher then previous swing high of 4980.
• All targets for medium term down trend are achieved now.
