TREND WATCH------
· Last swing high is at 5416. (lower high)
· Last swing low is at 5353. (Lower 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 small range of 40 points between 5369 and 5409. (Range compression).
· Swing low of 5353 formed now which is lower than previous swing low of 5360.
· ‘Inside day’ formed today as today’s high-low were between high-low of yesterday.
