TREND WATCH------
• Last swing high is at 6223. (Higher high)
• Last swing low is at 6118. (Higher 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 corrective down move (From 7th October) with targets (+/-10 points) of 6070, 6020, 5970.
---The down move will terminate above 6223.
(** means target achieved)
IMP. NOTES----
• Nifty traded between 6107 and 6199.
• Swing high of 6223 formed now which is higher than previous swing high of 6222.
• Short term uptrend is now terminated as Nifty traded below swing low of 6118.
• Please note that currently short term trend is ‘corrective down move’ and medium term trend is ‘up’.
