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 is in down trend (from 25th June) with targets of 5260**, 5230, 5200.
---The down trend will terminate above 5348.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
· Nifty traded in small range of 60 points between 5260 and 5320. (Range compression).
· Nifty traded and closed below swing low of 5288.
· So Nifty is now in short term down trend.
