TREND WATCH------
· Last swing high is at 5453. (Higher high)
· Last swing low is at 5360. (Higher low)
· In the medium term,
--- Nifty is in uptrend (From 12th July) with targets of 5400**, 5460**, 5550.
---The up trend will terminate below 5233.
· In the short term,
--- Nifty is in up trend (from 8th July) with targets of 5330**, 5370**, 5400**. (All targets achieved)
---The up trend will terminate below 5360. (Below 5360, Nifty will be in short term downtrend with targets of 5330, 5300, 5260.)
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
· Nifty traded in very small range of 27 points between 5374 and 5401. (Range compression).
· Swing low of 5360 formed now which is higher than previous swing low of 5233.
