Date: 13th Jan 2014
Nifty last closing price: 8299.40
Figure 1 is 10
box value chart plotted with daily closing prices. This kind of setup is rarely
seen in Nifty chart. I found only 2 such occasions since inception on 0.15% box
value. Low Pole is followed by High Pole which is followed by Low Pole again.
This kind of opposing poles pattern on daily time frame indicate volatility
within a specific range.
Price is basically moving within a range
though trading above bullish line hence in uptend. Time to let this noise get over and wait for next
basic signal will generate a trade.
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Figure 1: Nifty daily 10 x 3 cl Point and Figure Chart
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- Prashant Shah, CMT, CFTe
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All information provided above is for general information purposes only and does not constitute any investment advice. Company or Author shall not be liable for loss or damage that may arise from use of information provided above. The report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The readers of this material should take their own professional advice before acting on this information.
All information provided above is for general information purposes only and does not constitute any investment advice. Company or Author shall not be liable for loss or damage that may arise from use of information provided above. The report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The readers of this material should take their own professional advice before acting on this information.
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