Saturday, March 24, 2012

Nifty P&F (Wk 2603-3003) - likely to break down below 5210, upside possibility above 5330


The range is still intact.

Daily Analysis:


Today I have put two types of P&F chart. The first one is the conventional 3-pt reversal (box=20) & the second one is the 1-pt reversal wyckoff chart (box=60).

See the beauty of Wyckoff chart, it very clearly tells, that the chance of breaking down has very high probability. However, the same is not true in case of first chart where the range is still on. Important level for break down is 5210. The price still may follow the upside above 5330.

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