TREND WATCH------
· Last swing high is at 5339. (Lower high)
· Last swing low is at 5210. (Lower low)
· In the medium term,
--- Nifty is in corrective down move (From 29th June) with targets of 5210**, 5170, 5130.
--- The down move will ‘terminate’ above 5367.
· In the short term,
--- Nifty is in down trend (from 25th June) with targets of 5260**, 5230**, 5200**.
---The down trend will terminate above 5339.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
· Nifty traded in big range of 110 points between 5210 and 5320. (Range expansion).
· Swing low of 5210 formed now which is lower than previous swing low of 5260.
· All targets for short term down trend achieved now.