TREND WATCH------
· Last swing high is at 5348. (Lower high)
· Last swing low is at 5288. (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 5245.
· In the short term,
--- Nifty was in up trend (from 3rd June) which is terminated now.
---Below 5288, Nifty will be in short term downtrend with targets of 5260, 5230, 5200.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
· Nifty traded in small range of 64 points between 5284 and 5348. (Range compression).
· Swing high of 5348 formed now which is lower then previous swing high of 5367.
· Short term uptrend is now terminated.
