Thursday, April 21, 2011

Nifty Point & Figure (PnF) Analysis - Week 2504 - 290411

Weekly Analysis:

Daily Analysis:

Hourly Analysis:


Weekly & Daily to break-out 5950 level. Hourly UP.

Refer last week's post. First 5900 level acted as resistance, next 5700 given support. Now back to 5900 level. Watch out 5940 - 5970 zone, above it BULL below it BEAR.


  1. Hi Rajib,
    Weekly 5940,, may be they are attempting that , they will try for it on Monday.
    Daily 5970, looks crucial with the double break and the 6000 around the corner,
    and the earlier resis/support area 5985.
    Does PnF say anything about 5985 6000 ?

    with regards
    mo h

  2. This comment has been removed by the author.

  3. yes mo h,

    5980 - 6025 is a price cluster zone (a term iLango sir keeps referring). Other than that don't read anything.
    Keeping in mind the expiry week. An addendum to the post.

    If we see only price and think of the positional traders (the smart moneys!). See what they could have done only with NF.

    1. They sold at near Hawala price (5850 - 5900) level. Now,
    i. they could have booked near 5700 level and reversed. So we see a non-biased UP move.
    ii. they did not book and reselling at channel top again, we see a biased DOWN move again.
    iii. they did not do anything till they opened the position. we see a close near the hawala price.

    2. They bought at near Hawala price (5850 - 5900) level.
    i. they kept buying the fall twice till 5700 - 5750. their average price would have been low and they might not be interested in taking it further up.
    ii. they did not buy the falls and therefore, now would like to have a biased UP side.


  4. Dear Rajib,

    Thanks for providing a new learning for me from what positional traders would have done.

    Thanks & Regards,

  5. Hi Praba :D
    This is one real good concept, Point & Figure, which is not [accurately] yet in the chart packages since it depends on volume also.
    Its a good one, we are fortunate to have Rajib provide such charts which is not easy.

    In this the reversal happens on volumes building up consequently in reverse direction to fill [here may be] 3 boxes.
    And it indicates well, but i we need a good interpreter [Rajib] to do it well.

  6. Hi Rajib,
    Ok, Sunday is almost over, now i guess its time for me to get back.
    Wont be here for the series expiry, too,
    When I am around at next smaller breaks I shall come back and put my fingerprints around to show
    'I have been here'
    Takecare, keep giving us your inputs. I still want to learn this proper. But not finding the time ...
    Bye!! Have a great trading season !!!

  7. Hi Prabha,

    Thanks for stopping by. A dumb trader trying to analyze what smart traders could do in itself is blasphemy! :P

    mo h,
    Next series will eagerly wait your presence. :)


  8. Dear Sir,

    I downloaded PF Chart Xls . It has options to get data in Daily & Weekly basis.

    I observed in the blog that you are analysing the Hourly P& F chart. But that option is not given in the xls file. How to get Hourly data. Please clarrify

  9. @ Dear siva,

    You can not download Hourly data directly to the excel.

    What you need to do is get the data from some external sources (e.g. Google finance / yahoo finance free services; or IndiaBulls paid service) and paste in there. Or else you can request iLango sir of Just Nifty (Link given in the page in case u don't know him :)