TREND WATCH------
• Last swing high is at 5550. (Higher high)
• Last swing low is at 5513. (Higher low)
• In the medium term,
--- Nifty is in uptrend (From 12th July) with targets (+/-30 points) of 5400**, 5460**, 5550**. (All targets achieved)
---The up trend will terminate below 5372.
• In the short term,
--- Nifty is in corrective down move (from 24th August) with targets (+/-10 points) of 5480, 5460, 5440.
---The down move will terminate above 5550.
(** means target achieved)
IMP. NOTES----
• Nifty traded between 5488 and 5547.
• Swing high of 5550 formed now which is higher than previous swing high of 5547.
• Short uptrend is now terminated as Nifty trade and closed below swing low of 5513.
• Please note that currently short term trend is corrective down move and medium term trend is still up.
