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.
---The up move will ‘terminate’ below 4786.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
• Nifty traded in big range of 118 points between 4807 and 4925. (Range expansion).
• ‘Inside day’ formed today as Nifty traded between high and low of yesterday.
• Nifty is now in corrective up move between swing low and high.
• Swing low of 4786 formed now which is lower then previous swing low of 4842.
