Monday, July 11, 2011

Short Term Trend Update (July 11)

SHORT TERM----- (As per daily charts)
• Last swing high is at 5740. (Higher high)
• Last swing low is at 5611. (Higher low)
Nifty is in down move (from 11th July) with targets (+/- 10 points) of 5580, 5550, 5520.
• The down move will terminate above 5740.
• Short term swing high (Higher high) formed at 5740. (As the closing was in red for the day on 8th July).

Short term up move terminated today as Nifty traded below 5611.
• ** means target achieved.