This blog attempts to analyze movement of Nifty through the age-old Point & Figure method.
Weekly chart would imply the movement of Nifty for the weeks to come and not necessarily the immediate next week. Same is true for other time frame charts. As price action unfolds every week the charts speak for due course of action.
DISCLAIMER: NOTHING IN THIS BLOG SHOULD BE TAKEN AS TRADE ADVICE
I am reading individual charts well but in consolidation I need to still logically unify them. Today's action suggests it acted as per the daily chart (resisted at 6080!). Anyway, shall try to refine my readings.
TPO for UP side: box reversal (3) * box size (10) * number of columns in the consolidation zone (8) in this example.
ok Rajib,
ReplyDeleteby the hourly, we will watch the 5900 5890,
and the 6140 -> 6187
How do you find the TPO, Rajib, ?
3 is box reversal, 10 is per box, the 8 ?
Thanks.
Hi Mok,
ReplyDeleteI am reading individual charts well but in consolidation I need to still logically unify them. Today's action suggests it acted as per the daily chart (resisted at 6080!). Anyway, shall try to refine my readings.
TPO for UP side: box reversal (3) * box size (10) * number of columns in the consolidation zone (8) in this example.
Regards,
Rajib