TREND WATCH------
• Last swing high is at 5297. (Lower high)
• Last swing low is at 5233. (Higher low)
• In the medium term,
--- Nifty was in corrective down move (From 29th June) which is now terminated.
--- Above 5367, Nifty will be in medium term uptrend with targets of 5400, 5460, 5550.
• In the short term,
--- Nifty is in up trend (from 8th July) with targets of 5330**, 5370**, 5400.
---The up trend will terminate below 5233.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
• Nifty traded in small range of 62 points between 5297 and 5359. (Range compression).
• Nifty traded above 5339, so medium term down move is now terminated.
