Remain long unless below 5900!!

Remain long unless price goes below 5900!!
Date: 15^th July 2013

Nifty witnessed price consolidation initially but broken out in the later part of the week. 5760 on the lower side was not breached to beat the 5900 on the higher side. Price set up is bullish with triangle breakout in closing price (Figure 1) and Triple Top breakout in High Low chart (Figure 2). Breakout has also activated vertical count of 6490.

Remain long unless price goes below 5900. Trade Double tops, correctives and Formation of Xs. 

Figure 1: Nifty 10 x 3 CL Point and Figure Chart

Figure 2: Nifty 10 x 3 HL Point and Figure Chart

-          - Prashant Shah

  

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