TREND WATCH------
• Last swing high is at 6188. (Lower high)
• Last swing low is at 6067. (Lower low)
• In the medium term,
--- Nifty is in up trend (From 6th September) with targets (+/-30 points) of 5590**, 5670**, 5750**. (All targets achieved)
---The uptrend will terminate below 5964.
• In the short term,
--- Nifty is in down trend (From 12th October) with targets (+/-10 points) of 6070**, 6020, 5970.
---The down trend will terminate above 6188.
(** means target achieved)
IMP. NOTES----
• Nifty traded between 6058 and 6145.
• Swing high of 6188 formed now which is lower than previous swing high of 6223.
• Short term corrective down move is now converted in to short term down trend as Nifty traded below swing low of 6067.
• Please note that currently short term trend is ‘down’ and medium term trend is ‘up’.
