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 4801 and swing low is at 4588.
· The trend is up and the termination level is at 4588.
· The targets are 4860, 4920, 4980.
SHORT TERM----- (As per daily charts) ----
· Last swing high is at 4981 and swing low is at 4931.
· The trend is up and the termination level is at 4931.
· The targets(Revised) are 5010, 5040, 5080.
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.
3 comments:
Sir,
Will you post some examples for the swing low and high .Why two days ?
thanks
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Dear Bala,
I consider swing levels as turning points and that's why I have considered two days only.
e.g. today Nifty closed in red, means nifty turned in red after giving green closings for few days, so highest high of last two days which is 5064 is the turning point....so last swing high is now at 5064.
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