TREND WATCH------
• Last swing high is at 5477. (Lower high)
• Last swing low is at 5408. (Higher 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 5372.
• In the short term,
--- Nifty is in uptrend (from 18th August) with targets (+/-10 points) of 5500, 5530, 5560.
---The up trend will terminate below 5408.
(** means target achieved)
IMP. NOTES----
• Nifty traded between 5416 and 5488.
• Swing low of 5408 formed now which is higher than previous swing low of 5372.
• Short term corrective down move is now terminated.
• Please note that short term trend is now up and medium term trend is already up.
