Market Technical Views and Trend (August)

As per daily charts SHORT TERM Nifty is in corrective mode..
• Last swing high is at 5702. (Higher high)
• Last swing low is at 5533. (Lower low)
• Nifty is in down move (from 27th July) with targets (+/- 10 points) of 5490, 5450, 5410.
• The down move will terminate above 5702.

As per weekly charts MEDIUM TERM trend is down..
• Last swing high is at 5702. (Lower high)
• Last swing low is at 5497. (Higher low)
• Nifty is in down trend (from 28th July) with targets (+/-30 points) of 5430**, 5370, 5320.
• The down move will terminate above 5702.

As per monthly charts LONG TERM trend is also down..
• Last swing high is at 5740. (Lower high)
• Last swing low is at 5196. (Higher low)
• Nifty is in down trend.
• The down trend will terminate above 5740.

Source : Dr JC Shah