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
Tuesday, March 6, 2012
Nifty P&F (Midwk 0502-0903) - first support near 5165, next 5090
Election results did not change much the EOD scenario 160+ pts movement against the position either way would have made life difficult for many like me. I always follow the EOD method but early morning movement was too much for me to sit tight.
The current scenario provides a support at 5165, break and next one near 5075-90.
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