TREND WATCH------
· Last swing high is at 5297. (Lower high)
· Last swing low is at 5233. (Higher low)
· In the medium term,
--- Nifty is in corrective down move (From 29th June) with targets of 5210**, 5170, 5130.
--- The down move will ‘terminate’ above 5339.
· 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 big range of 78 points between 5242 and 5320. (Range expansion).
· Swing low of 5233 formed now which is higher than previous swing low of 5225.
· Nifty traded above swing high of 5297, so short term down trend is now terminated and in short term Nifty is now in up trend.
