Monday, June 21, 2010

TREND WATCH-JUNE 22

TREND WATCH------

· Last swing high is at 5302. (Higher high)

· Last swing low is at 5245. (Higher low)

· In the medium term,

--- Nifty is in corrective up move (From 3rd June) with targets of 5160**, 5280**, 5330**.

--- The up move will ‘terminate’ below 4967.

· In the short term,

--- Nifty is in up trend (from 3rd June) with targets of 5140**, 5190**, 5260**.

---The up trend will ‘terminate’ below 5245.


(Targets are +/- 20 points, ** means target achieved)

IMP. NOTES----

· Nifty traded in big range of 101 points between 5266 and 5367. (Range expansion).

· Swing low of 5245 formed now which is higher then previous swing low of 4967.

· Nifty traded and closed above swing high of 5302.

· All targets for medium term up move also achieved now.