Saturday, February 26, 2011

Nifty Point & Figure (PnF) Analysis - Week 100228 - 0304

Weekly Analysis:

Daily Analysis:

Hourly Analysis:


Weekly still consolidating. Daily and Hourly under minor support. Support 5230 >> 5090. Resistance 5440 >> 5660.

Note on my summary: I try to read these three different time frames independently. Then I start reading all those levels that the individual charts indicate. If I find no co-incidence / similarity between these levels, I feel a little less confident. But when I see the common prices across charts, I am almost sure of these levels. Let's take the example of resistance in this case - see daily & hourly chart giving indication of first level of resistance around 5420 - 5440 level. Now see the next level weekly & hourly in agreement for 5660 level. Though there is a minor resistance at 5540 at weekly chart, which I will definitely keep an eye on, is not strikingly present in other time frames.

No comments:

Post a Comment