TREND WATCH------
• Last swing high is at 5550. (Higher high)
• Last swing low is at 5452. (Lower 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 5454and 5478.
• Swing low of 5452 formed now which is lower than previous swing low of 5513.
• Please note that currently short term trend is ‘corrective down move’ and medium term trend is ‘up’.
