TREND WATCH------
• Last swing high is at 5477. (Lower high)
• Last swing low is at 5372. (Lower low)
• In the medium term,
--- Nifty is in uptrend (From 12th July) with targets (+/-30 points) of 5400**, 5460**, 5550.
---The up trend will terminate below 5349.
• In the short term,
--- Nifty is in corrective down move (from 11th August) with targets (+/-10 points) of 5400**, 5380**, 5350.
---The down move will terminate above 5477.
(** means target achieved)
IMP. NOTES----
• Nifty traded between 5397 and 5465.
• Swing high of 5477 formed now which is lower than previous swing high of 5492.
