Monday, November 8, 2010

Nifty Point & Figure (PnF) Analysis - Week 201107 - 1111

Some Recaps:

I fear whether this sounds retro and boastful. However, the intention is to show that almost all the methods that the great chartists and technicians have put to use over time, hold some value even today; it's upto us to salvage them. Not following any other technical indicator and only PnF chart, I was able to read that 5940 will be the final support even two weeks before and recommended buying equities. Last week also the chart read that if 6180 taken, 6220 will also be taken.

The only problem I find in my reading that when I try to do too many things, it gets biased! I hope I get rid of the problem soon.

I have started scribing the details in the chart itself. Hope, this will be more meaningful as at the same time the chart and the write-up can be referred.

Weekly Chart:

Daily Chart:

Hourly Chart:


Hourly & Daily chart have broken the down channel and is in expansion mode. Resistance is not established as of now. Support lying in the zone 6220 - 6240.
Weekly chart wants to set in new territory!

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