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
Hi Rajib, I started looking into PnF materials. Its a very interesting concept. So, the continuous fall in 'o' in Weekly is doublebottom breakdown & Daily is doublebrkdown of doublebottom [the term is staked doubletop ??]. Hourly is forming the Triangle. Well , i made a start i guess :) Have a nice weekend!
Welcome to PnF also ... I scare now you will make it complicated ... :P
As I have observed, in PnF double bottom works in higher time frame (Month or week), in hour and daily, it's mostly the channel bottom and top that works the best. You get no better channel in any charting method except in PnF. And I don't subscribe to the 45 degree line concept except for a very macro view.
Hi Rajib,
ReplyDeleteI started looking into PnF materials.
Its a very interesting concept.
So, the continuous fall in 'o' in Weekly is doublebottom breakdown & Daily is doublebrkdown of doublebottom [the term is staked doubletop ??].
Hourly is forming the Triangle.
Well , i made a start i guess :)
Have a nice weekend!
Hi Mok,
ReplyDeleteWelcome to PnF also ... I scare now you will make it complicated ... :P
As I have observed, in PnF double bottom works in higher time frame (Month or week), in hour and daily, it's mostly the channel bottom and top that works the best. You get no better channel in any charting method except in PnF. And I don't subscribe to the 45 degree line concept except for a very macro view.
Thanks for stopping by ... :)
Regards,
Rajib
hi,
ReplyDeleteThanks for such a wonderful blog about pnf hard to find online such good analysis of indian markets.
would you be kind to tell me wht charts are u using for pnf?
thanks