Saturday, January 29, 2011

Nifty Point & Figure (PnF) Analysis - Week 100131 - 0204

Weekly Analysis:

Daily Analysis:

Hourly Analysis:


Immediate DOWN support 5380 - 5420. UP side resistance 5550 level.

Chances of Bulls look completely gone. Two weeks before I was of the same opinion but last week's reasonable Q3 results hinted perhaps it will take few more months before it gives in. I don't see bulls can be back from here. Only thing we need to gauge now the power of this destruction whether it will be slow & steady or fast & furious (one like that in 2008). There will again be panic in the market. It will take 2-3 more months for the street to realize that. And last but not the least 6 months for the economic recession to set in!


  1. Hi Rajib,

    Congrats ,U were among first bloggers who predicted the 5500 levels positionally many weeks ago .Your use of the P&F method is just great.Keep up the good work.

    I have posted analysis of different Time Frames of the market in my blog ,The Third Eye - , Please have a look and leave your comments and observations .


  2. Thanks Rajib for keeping an alert eye and correcting my charts .

    Pl. feel free to share observations any time