Short term trend update

LONG TERM----- (As per monthly charts) ----


• Last swing high is at 5449 and swing low is at 5032.

• The trend is up and the termination level is at 5032.

• The targets (+/- 50) are 5600*, 5750*, 5950.

MEDIUM TERM----- (As per weekly charts) ----

• Last swing high is at 5723 and swing low is at 5583.

• The trend is down and the termination level is at 5723.

• The targets (+/- 30) are 5600*, 5550, 5500.

SHORT TERM----- (As per daily charts) ----

• Last swing high is at 5698 and swing low is at 5583.

• The trend is up and the termination level is at 5583.

• The targets (+/- 10) are 5740, 5760, 5780.



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.

• Targets are as per fibo levels between various swings.

• * suggest target is achieved.