Nifty PnF Analysis - Week 20100726 - 0730

Weekly Analysis:

Weekly chart support came at 5360. Intermediate UP (blue) channel resistance expected 5540 - 5580. LT UP channel support should come around 5200 - 5240.

Daily Analysis:

Daily chart got support at Intermediate UP (Blue) channel support at 5360. Started its upward journey within the channel. It's expected to face the resistance 5540 - 5580. If it fails moving up, the same channel would offer support 5370 - 5410. Failing this the support comes deep in the LT UP channel at 5065 - 5105.

Hourly Analysis:

Hourly chart also formed by consolidating in the range of 5360 - 5400 for long hours. In the process it has formed a new Intermediate UP (Blue) channel. This channel has offered a support at 5360 level. Started its upward journey. Resistance should be met somewhere on extrapolation of the channel at 5530 - 5540.

Summary:

Important levels of resistance to UP side from Daily & Weekly chart comes at 5540. The same charts offer resistance to DOWN side 5360.

Hourly chart shows a great level of consolidation. Whenever, there is a consolidation in the direction of the trend (at the bottom of the channel), some proportional UP side is quite expected. And this should coincide with the Daily & Weekly chart.

Nifty PnF Analysis - Week 20100719 - 0723

Weekly Analysis:



Weekly channel has offered resistance at 5450. The blue intermediate UP channel support provided at 5280 - 5320. Breaking this channel will test LT UP channel at 5200 - 5240. Breaking this will onset reversal and downward movement.


Daily Analysis:



The Daily chart has offered resistance at 5450-5500 level. Downward movement initiated and expected to be supported at 5320 - 5360. Breaking this LT UP channel support comes at 5065 - 5105.

Hourly Analysis:



Hourly chart shows a new Blue channel movement. This should provide a support at 5390 and resistance at 5450 - 5460. Breaking the blue channel support will find, Intermediate UP channel support at 5320 - 5330.

Summary:
Weekly, Daily & Hourly channel tops have offered resistance. More DOWN side than UP side expected. Several time-frame supports at different points. Important levels 5320 (Daily & Hourly), 5200 - 5240 (Weekly).

Nifty PnF Analysis - Week 20100712 - 0716

Weekly Analysis:



Weekly chart has met with an immediate resistance at current level (5367). Breaking this resistance will see Nifty in coming days next resistance at 5410 - 5450 at the LT UP channel.


Daily Analysis:



Daily chart shows a promising UP move. Immediate resistance 5410, next Int UP (blue) channel resistance at 5500. Half-side support at 5280. Next LT UP support at 5022 - 5065. Testing this would indicate less of UP move and more of DOWN move.

Hourly Chart:



A new Int UP channel (blue) is in making. Immediate resistance is met at current level (5360). Immediate upside should be limited to 5370 - 5380. Subsequent downside, halfway 5330 - 5340. Breaking which downside will be tested at 5300 level. This could be a good buy.

Summary:

All charts immediately face resistance.
Breaking which will indicate UP move. Failing which indicate DOWN move. However, as long as 5022 - 5065 is maintained, DOWN move will be prevailed.