· Last swing high is at 5608. (Higher high)
· Last swing low is at 5348. (Higher low)
· Nifty is in up trend (From 4th March) with targets (+/-30 points) of 5670**, 5790, 5840. · The up trend will terminate below 5348.
SHORT TERM----- (As per daily charts)
· Last swing high is at 5535. (Lower high)
· Last swing low is at 5348. (Lower low)
· Nifty is in corrective up move (From 25th March) with targets (+/-10 points) of 5580**, 5640**, 5720.
· The upmove will terminate below 5348.
IMP. NOTES----
· Medium term swing low of 5348 formed now as the closing was in green for the week.
· Short term down trend terminated today as Nifty traded above 5535.
· First target of 5670 of medium term uptrend given on 4th march achieved today. · ** means target achieved
Sp. Notes---
· Swing low----- occurs when Nifty closes in green. (Lowest low of last two days will be Swing low.) · Swing high----- occurs when Nifty closes in red. (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. · Corrective up move---forms when in downtrend we trade above last swing high without making higher swing low. · Corrective down move---forms when in uptrend we trade below last swing low without making lower swing high. · Targets---are based on Fibonacci retranchment levels between different swings. · All levels are as per Nifty spot only.
