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

Summary:

I still say the long-term looks quite good.

Weekly Analysis:

Daily Analysis:

Summary:

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.

Note:

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.