TREND WATCH------
• Last swing high is at 5469. (Lower high)
• Last swing low is at 5349. (Lower low)
• In the medium term,
--- Nifty is in corrective down move (From 31st August) with targets (+/-30 points) of 5280, 5210, 5150.
---The down move will terminate above 5550.
• In the short term,
--- Nifty is in corrective up move (from 1st September) with targets (+/-10 points) of 5470**, 5510**, 5550.
---The up move will terminate below 5349.
(** means target achieved)
IMP. NOTES----
• Nifty traded between 5472 and 5514.
• Long upper shadow formed today which is bearish.
• Please note that currently short term trend is ‘corrective up move’ and medium term trend is ‘corrective down move’.
