Hourly Chart:
Hourly chart shows movement within the channel. As expected the support came near 5340. Now upside channel will offer resistance in the range 5435 - 5451. This could be a shorting range. However, one can not be sure of the short until it convincingly goes past the strong support line at 5360.
DLF Daily:
Thought of updating DLF daily chart also.
DLF is holding last line of support. Initial SL was hit. However, if somebody is still holding it for long-term 290 could be given a chance for last support.
Dear Rajib,
ReplyDeleteHow do you arrive at the box size. For Nifty - 8 and DLF-3.2. What is the basis? Please explain.
Regarding the downloading from PIB, since you are very good at excel, if you can programme some utility it will be easy, I suppose. Otherwise you have to do individually by opening intra-day chart for every stock.
Regards,
Veer
Dear veer,
ReplyDeleteBox size in PnF charting should be derived from two factors:
1. Time Frame: Hourly, Daily & Weekly should have different box size.
2. Risk absorption capability: A smaller box size would mean low risk and high volatility (whipsaw).
This can be derived once a chart is being monitored for longer period of time with established consolidation and distribution zone.
To start with one can apply a thumb rule - (Max - Min) / data-points
PIB Data Extraction:
I just opened the account. Need to explore more. If you could guide me to some source it will be great help.
Regards.
Dear Rajib,
ReplyDeleteI am also doing the same way for PIB as what Ilango has told you. But since you are a tech-savy , you can try with some utility to download the hourly data fro several stocks at one go. In case if you succeed,you please pass on to me also.
Veer
Hello,
ReplyDeleteCan we make this point & figure charts on Amibroker?
Which software do you use for P&F charting?
Sam
Dear Sir I downloaded POINT & FIGURE chart in Excel sheet from this site. It gives me 2 options Daily / Weekly.
ReplyDeleteWhat should i do to get Hourly chart
Mr Benjamin went above and beyond their requirements to assist me with my loan which I used to expand my pharmacy business,They were friendly, professional, and absolute gems to work with.I will recommend anyone looking for loan to contact. 247officedept@gmail.com.WhatsApp ... + 19893943740.
ReplyDelete