TREND WATCH------
· Last swing high is at 5416. (lower 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 down trend (from 20th July) with targets of 5330, 5300, 5260.
---The down trend will terminate above 5416.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
· Nifty traded in big range of 63 points between 5353 and 5416. (Range expansion).
· Swing high of 5416 formed again which is lower than previous swing high of 5453.
· Nifty traded below 5360, so short term uptrend is now terminated and nifty is in down trend.
