Nifty - P&F analysis!!
Date: 3rd May 2015
Nifty last closing price: 8181.50
Daily chart (Medium - Intermediate trend)
Figure 1 is 10 box P&F chart plotted with daily closing prices. Negative setup discussed during last week witnessed follow through with continuous double bottom sell pattern. Exit level is trailed further and placed at 8290 on closing basis at the moment.
1 Min Chart (Short term trend)
Figure 2 is 5 box P&F chart plotted with closing prices of every minute. Trend is down at the moment but trade above 8210 will activate short term counts of 8270 and 8315.
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Figure 1: Nifty daily 10 x 3 cl Point and Figure Chart
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| Figure 2: Nifty dly 10 x 3 cl Point and Figure Chart
- 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. |
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