Wednesday, June 29, 2011

Medium Term Trend Update

MEDIUM TERM----- (As per weekly charts)
• Last swing high is at 5605. (Lower high)
• Last swing low is at 5196. (Lower low)
Nifty is in corrective up move (From 29th June) with targets (+/-30 points) of 5650, 5730, 5840.
• The up move will terminate below 5196.
• Medium term swing low (Lower low) formed at 5196. (As the closing was in green for the week which ended on 24th June).

Medium term down trend terminated today as Nifty traded above 5605.
• ** means target achieved.