This blog attempts to analyze movement of Nifty through the age-old Point & Figure method.
Weekly chart would imply the movement of Nifty for the weeks to come and not necessarily the immediate next week. Same is true for other time frame charts. As price action unfolds every week the charts speak for due course of action.
DISCLAIMER: NOTHING IN THIS BLOG SHOULD BE TAKEN AS TRADE ADVICE
Monday, November 21, 2011
Nifty P&F (Wk 1311 - 1711) - the bears approaching for a pause near 4700
On weekly chart reading was correct, but on daily chart was damn wrong for a Bullish set-up.