'X'
everywhere!!
Date: 1st March 2015
Nifty last closing price: 8901.85
Daily chart
Date: 1st March 2015
Figure 1 is 10
box P&F chart plotted with daily closing prices. As expected consolidation
happened during last entire week. Discussed during last write up that close
above 8900 will trigger buy signal. It has happened on Budget session of
Saturday. Chart is bullish and pattern is bullish now as well. Setup to go long
for positional traders.
Figure 2 is 5 box P&F
chart plotted with closing prices of every minute. Resistance worked and price
consolidated within a range during last week. It achieved lower side counts and
now witnessing bullish breakout. Chart is bullish and counts till 9025 are
active at the moment.
'X' is back on all time frames. Bulls
to enjoy the ride!!
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Figure 2: Nifty 1 min 5 x 3 cl Point and Figure Chart
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Figure 3: Bank Nifty Relative Strength Point and Figure Chart
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- Prashant Shah, CMT, CFTe
Disclaimer:
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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