TREND WATCH------
· Last swing high is at 5451. (Lower high)
· Last swing low is at 5407. (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 5353.
· In the short term,
--- Nifty is in down trend (from 28th July) with targets of 5370, 5330, 5300.
---The down trend will terminate above 5451.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
· Nifty traded between 5386 and 5448.
· Swing high of 5451 formed now which is lower than previous swing high of 5477.
· Nifty traded and closed below swing low of 5407, so short term uptrend is now terminated and down trend begun.
