Saturday, January 8, 2011

Nifty Point & Figure (PnF) Analysis - Week 100110 - 0113

Weekly Analysis:

Daily Analysis:

Hourly Analysis:


6180 turned out to be a good reading. Strongly started believing prices always move within channels. Only things many a times those channels are not straightway obvious.
Weekly & Daily DOWN. Weekly & Daily support around 5800 level. Daily is not readable. Watch out for a short at 5930 level which might come on Monday!
Note: In the hourly chart read the line "The PnF veterans ... 40 point ... bounce back" as "The PnF veterans ... 20 point ... bounce back". Sorry for the mistake.

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