Saturday, March 26, 2011

Nifty Point & Figure (PnF) Analysis - Week 100328 - 0401

Weekly Analysis:

Daily Analysis:

Hourly Analysis:


All in clear UP move. Target channel top near 5750. Support 5540 level.

The underlying bullishness was there in the weekly chart for long. Last week daily chart we read the support. Hourly is in mad UP move. Possible that the channel top is reached this series itself. I have seen this kind of "ascending triangles" often give false break-out. So got to be careful to take it as fresh bullishness. If this is a fresh bullishness there will be a new low in weekly chart. Only a fresh breakout of that new high will turn the market bullish.

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