TREND WATCH------
• Last swing high is at 5495. (Lower high)
• Last swing low is at 5390. (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 down trend (from 27th August) with targets (+/-10 points) of 5420**, 5380, 5350.
---The down trend will terminate above 5495.
(** means target achieved)
IMP. NOTES----
• Nifty traded between 5390 and 5469.
• Swing low of 5390 formed now which is lower than previous swing low of 5452.
• Please note that currently short term trend is ‘down’ and medium term trend is ‘up’.
