MEDIUM TERM----- (As per weekly charts)
• Last swing high is at 5913. (Lower high)
• Last swing low is at 5693. (Higher low)
• Nifty is in down trend (From 3rd May) with targets (+/-30 points) of 5650**, 5600**, 5550**.
• The down trend will terminate above 5913.
• ** means target achieved.
SHORT TERM----- (As per daily charts)
• Last swing high is at 5509. (Higher high)
• Last swing low is at 5458. (Higher low)
• Nifty is in up trend (From 31st May) with targets (+/-10 points) of 5540**, 5570, 5600.
• The up move will terminate below 5458.
• Short term swing high (Higher high) formed at 5509. (As the closing was in red for the day on 30th May).
• Short term swing low (Higher low) formed at 5458. (As the closing was in green for the day on 31st May).
• Short term up move converted in to up trend today as Nifty traded above 5509.
• ** means target achieved.
