MEDIUM TERM----- (As per weekly charts)
· 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 5872. (Higher high)
· Last swing low is at 5810. (Higher low)
· Nifty is in up trend (From 4th April) with targets (+/-10 points) of 5900**, 5930**, 5960.
· The up trend will terminate below 5810.
IMP. NOTES----
· Short term swing low of 5810 formed now as the closing was in green for the day.
· Short term corrective up move converted into uptrend as Nifty traded above swing high of 5872.
· ** 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.
