Nifty PnF Analysis - Week 20100628 - 0702

Weekly Analysis:



The reversal has happened, halfway-support at 5160 - 5200. Further support at LT UP channel at 5020 - 5070. Int UP channel resistance 5500 - 5540.

Daily Analysis:



The reversal has happened, halfway support at 5150 - 5190. LT UP Channel support 5020 - 5070. Intermediate UP channel resistance at 5410 - 5450.

Hourly Analysis:



A bullish flag with Lower High and Low is formed. Ideally, they should break-out of this on upside. However, breaking the channel support at 5250 should violate it. Further support expected at Int / New UP channel support at 5160 - 5180. UP side target at flag base with 10 columns. So target comes at 5259 + 5*30 = 5409.

Nifty PnF Analysis - Week 20100621-25

Weekly Analysis:



Weekly chart has met a resistance at 5300. Halfway pullback will support at 5190-5200. Major support at LT UP Channel at 5070 - 5110. Intermediate UP channel resistance will be met at 5500 - 5540.

Daily Analysis:



Daily chart shows Intermediate UP channel resisted at 5300. Pull back will get resisted halfway 5200 - 5240. LT UP Channel support at 5020 - 5070. Upward movement will be resisted at Intermediate Blue channel resistance at 5400 - 5450.

Hourly Analysis:



Hourly chart has come out of the Steep UP channel. First support at Intermediate UP channel at 5200 - 5210. Breaking which the next intermediate UP channel support comes at 5100 - 5110.

Summary:

Weekly break-out has happened. Minor retrace expected.
Daily chart also has broken-out of the lowest channel, minor retracement and the upmove should restart.
Hourly chart suggests immediate downward corrections.

Nifty PnF Analysis - Week 20100614-18

Weekly Analysis:



Weekly chart has broken the Pink Intermediate DOWN channel resistance at 5110. Previously there was a ST UP channel (Blue) in work which will resist at 5240 - 5280 - 5320. Strong global cues might push upside even to the extent of 5410 - 5450.
Support at Pink Intermediate DOWN channel at 5065 - 5110. LT UP Channel support at 4980 - 5020.

Daily Analysis:



Daily chart shows Intermediate UP channel resistance at 5160 - 5120. LT UP Channel resistance 5360 - 5400. LT UP Channel support at 5040 - 5080.

Hourly Analysis:



Hourly chart offers immediate LT UP channel at 5190 - 5200. Intermediate UP Channel support at 5050 - 5060. Breaking which it will support LT UP Channel 4980 - 4990.

Summary:
All views indicate upside movement has larger possibility than downside.

Weekly Analysis - PnF Approach

Weekly analysis:




Weekly PnF indicates first level of Support at 4950; failing which it shall go on to test 4750! Upside resistance at 5160 - 5200.

Daily analysis:




Daily PnF indicates first level of Support provided at 4980 - 5000; failing which it shall go on to test 4850 - 4870! Upside resistance at 5200 - 5240.

Hourly analysis:



Hourly PnF indicates first level of Support provided at 5000 - 5010; failing which it shall go on to test 4920 - 4940! Upside resistance at 5090; breaking which it shall test 5160 - 5170.


In nutshell,
Weekly LT is turning from UP to DOWN.
Daily LT is UP, ST is testing bottom.
Hourly, LT is UP, ST is turning from UP to DOWN.