• Last swing high is at 5295. (Lower high)
• In the medium term,
--- Nifty is now in down trend (from 4th May) with targets of 5120**, 5040, 4980.
--- The down trend will ‘terminate’ above 5342.
• In the short term,
--- Nifty is again in down trend (from 4th May) with targets of 5170**, 5140**, 5070.
---The down trend will terminate above 5295.
(Targets are +/- 20 points, ** means target achieved)
***SP.NOTES**
---Nifty closed below swing low of 5202, so Nifty is now in short term downtrend.
---Nifty closed below swing low of 5161 also, so Nifty is now in medium downtrend.
