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**.
Above 5029, further targets for the corrective up move will be 5080, 5110, 5150.
---The up move will ‘terminate’ below 4786.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
• Nifty traded in big range of 119 points between 4897 and 5016. (Range expansion).
• Nifty gave its best closing in last seven days.
• All targets for short term corrective up move achieved now.
• Above 5029, further targets for the corrective up move will be 5080, 5110, 5150.
