MEDIUM TERM----- (As per weekly charts)
• Last swing high is at 5740. (Higher high)
• Last swing low is at 5497. (Higher low)
• Nifty is in corrective up move (from 29th June) with targets (+/-30 points) of 5650**, 5730**, 5840.
• The up move will terminate below 5497.
• Medium term swing high (Higher high) formed at 5740. (As the closing was in red for the week which ended on 15th July)
• Medium term swing low (Higher low) formed at 5497. (As the closing was in green for the week which ended on 22nd July).
SHORT TERM----- (As per daily charts)
• Last swing high is at 5645. (Lower high)
• Last swing low is at 5533. (Lower low)
• Nifty is in down trend (from 21st July) with targets (+/- 10 points) of 5520, 5500, 5480.
• The down trend will terminate above 5645.
• Short term swing low (Lower low) formed at 5533. (As the closing was in green for the day on 22nd July).
• Short term swing high (Lower high) formed at 5645. (As the closing was in red for the day on 20th July).
