Tuesday, February 8, 2011

TREND WATCH-FEB 9 & 10 & 11

• Last swing high is at 5440. (Lower high)
• Last swing low is at 5369. (Lower low)
• In the medium term,
--- Nifty is in down trend (From 11th January) with targets (+/-30 points) of 5700**, 5630**, 5550**.
--- The downtrend will terminate above 5556.
• In the short term,
--- Nifty is again in down trend (From 4th February) with targets (+/-10 points) of 5360**, 5330**, 5300**.
--- The down trend will terminate above 5440.

(** means target achieved)

• Swing high of 5440 formed now.

Sp. Notes---
• Swing low----- occurs when Nifty closes in green and lowest low of last two days will be Swing low.
• Swing high----- occurs when Nifty closes in red and highest high of last two days will be Swing high.
• Uptrend---forms when we have higher swing low and we trade above last swing high.
• Downtrend---forms when we have lower swing high and we trade below last swing low.