LONG TERM----- (As per monthly charts) ----
• Last swing high is at 5400 and swing low is at 4728.
• The trend is down and the termination level is at 5400.
MEDIUM TERM----- (As per weekly charts) ----
• Last swing high is at 5400 and swing low is at 5011.
• The trend is down and the termination level is at 5400.
SHORT TERM----- (As per daily charts) ----
• Last swing high is at 5318 and swing low is at 4765.
• The trend is down and the termination level is at 5318.
Sp. Notes---
• Swing low----- occurs when Nifty closes in green. (Lowest low of last two days will be Swing low.)
• Swing high----- occurs when Nifty closes in red. (Highest high of last two days will be Swing high.)
• Uptrend---forms when we have higher swing low and we trade above last swing high.
• Downtrend---forms when we have lower swing high and we trade below last swing low.
• Corrective up move---forms when in downtrend we trade above last swing high without making higher swing low.
• Corrective down move---forms when in uptrend we trade below last swing low without making lower swing high.
• All levels are as per Nifty spot only.
