Nifty Point & Figure Analysis

Neutral!!

Date: 20th September 2015

Nifty last closing price: 7981.90

Daily chart (Medium - Intermediate trend)

Figure 1 is 10 box P&F chart plotted with daily closing prices.  

         

·         Last Pattern: Double top buy after 100% Pole (Bullish)

·         Last Column: Bullish

·         45 degree trend: Bearish

·         Active counts: 7480, 8180

1 Min Chart (Short term trend)

Figure 2 is 5 box P&F chart plotted with closing prices of every minute.

8110-8120 are important levels on the higher side whereas 7840 and 7790 is the reference zone on the lower side.

Figure 3 is X-Percent P&F Breadth indicator of Nifty. Current reading of 72% is indicating overbought zone in near term. 

- Prashant Shah, CMT, CFTe

Disclaimer:
All information provided above is for general information purposes only and does not constitute any investment advice. The readers of this material should take their own professional advice before acting on this information.

Nifty Point & Figure analysis

Neutral!!
Date: 13th September 2015

Nifty last closing price: 7789.30

Daily chart (Medium - Intermediate trend)

Figure 1 is 10 box P&F chart plotted with daily closing prices.      

·         Last Pattern: Low Pole (Bullish)

·         Last Column: Bullish

·         45 degree trend: Bearish

·         Active counts: 7480

 

Close above 7830 will form Bullish 100% Pole pattern which can be traded with stoploss placed at column reversal.

 

1 Min Chart (Short term trend)

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. 7845- 7865 discussed during last post. Price high of the week was 7864.85. Support area at lower side are placed at 7745 and 7650 as shown in the chart.

Figure 3 is X-Percent P&F Breadth indicator of Nifty 50. Reading is 64% at the moment which is neutral. This indicator helped us last week to read oversold markets though trend was down. Price witnessed sharp bounce.

 

 

- Prashant Shah, CMT, CFTe

 

Disclaimer:
All information provided above is for general information purposes only and does not constitute any investment advice. The readers of this material should take their own professional advice before acting on this information.

Nifty Point & Figure analysis

Downtrend approaching Oversold!!
Date: 6th September 2015

Nifty last closing price: 7655.05

Daily chart (Medium - Intermediate trend)

 

Figure 1 is 10 box P&F chart plotted with daily closing prices.  

 

·         Last Pattern: Double Bottom Sell (Bearish)

 

·         Last Column: Bearish

 

·         45 degree trend: Bearish

 

·         Active counts: 7480

·         Short exit level: 7740

 

1 Min Chart (Short term trend)

 

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. 7845- 7865 is resistance area.

 

Figure 3 is X-Percent P&F Breadth indicator of Nifty 50. It is at 16% indicate strong downtrend but oversold markets.

 

 

- Prashant Shah, CMT, CFTe

 

 

Disclaimer:
All information provided above is for general information purposes only and does not constitute any investment advice. The readers of this material should take their own professional advice before acting on this information.

Nifty Point & Figure analysis

'O' (Bears) in control!!

Date: 30th August 2015

Nifty last closing price: 8001.95

Daily chart (Medium - Intermediate trend)

Figure 1 is 10 box P&F chart plotted with daily closing prices.  

 

·         Last Pattern: Double Bottom Sell (Bearish)

 

·         Last Column: Bullish

 

·         45 degree trend: Bearish

 

·         Active counts: 7760, 7480

 

·         Short exit level: 8155

 

Short exit level is marked at 8155 at the moment being mid value of long column of that will trigger low pole. However same will be trailed down with every new 'O'.

 

1 Min Chart (Short term trend)

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. 7865 - 7675 are areas to watch in the lower side. 8050 and 8125 are key resistance areas where fresh short positions can be built.

 

Figure 3 is X-Percent P&F Breadth indicator of Nifty 50. It has come back to neutral zone of 60% indicating affordable setup for bearish traders who are looking for opportunity.

 

 

 

- Prashant Shah, CMT, CFTe

 

Disclaimer:
All information provided above is for general information purposes only and does not constitute any investment advice. The readers of this material should take their own professional advice before acting on this information.