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
Saturday, July 28, 2012
Nifty P&F (Wk 3006-0407) - a pullback to 5180 & support at 5050
Past 5110, weakness has crept in.
Weekly down, daily range bound. Near-term bias is up. Should pull-back to the point of 5180. DOWN side if resumes immediately support near 5050 level.