Saturday, November 30, 2013

Nifty P&F (Wk 0212-0612) - Break-out in all charts buy till 6060!


I still say the long-term looks quite good.

Weekly Analysis:

Daily Analysis:


Weekly pattern - Semi-Catapault.
Daily pattern - Double Top & BrRL break-out.

High probability that longs will be sustained. Buy at every opportunity of pullback till 6090 & exit longs at 6060 level. As of now multiple channel (BlSL) support lies till 5880 level.


As you see from the charts, there have been few key changes:
  • Scale changed to logarithmic
    • Weekly - 2% (Box Size) & 3 (reversal)
    • Daily - 0.5% (Box Size) & 2 (reversal)
  • Simple signal (Double Bottom / Top break-out) wherever applicable
Also I'll try to make my analysis more relevant to the books of Point & Figure. Let me know, how you like the changes.

1 comment:

  1. I think its not easy for a lay man to understand all this stuff regarding technical as well as fundamental analysis whether these are the base for analysts though.