TREND WATCH------
· Last swing high is at 5348. (Lower high)
· Last swing low is at 5260. (Lower 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 68 points between 5271 and 5339. (Range compression).
· Swing low of 5260 formed now which is lower than previous swing low of 5288.
