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.
SHORT TERM----- (As per daily charts)
• Last swing high is at 5605. (Higher high)
• Last swing low is at 5472. (Lower low)
• Nifty is in corrective down move (From 17th May) with targets (+/-10 points) of 5430**, 5400, 5370.
• The down move will terminate above 5605.
IMP. NOTES----
• Short term swing high of 5605 formed on 16th may as the closing was in red for the day.
• Short term up move terminated today as Nifty traded below 5472.
• ** means target achieved.
