Nifty Point & Figure analysis

Turned down!!
Date: 23rd August 2015

Nifty last closing price: 8299.95

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: Bearish

 

·         45 degree trend: Bullish

 

·         Active counts: 8050

 

·         Short exit level: 8400

 

Trend has turned to down from neutral and generated a bearish trade. Current bearish signal has activated 8050 on the lower side. 45 degree trend will remain bullish till 8050 is maintained on closing basis.

 

1 Min Chart (Short term trend)

 

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. 8050 on the lower side is key reference level. 8370 - 8380 on the higher side may act as significant resistance.

 

Figure 4 is X-Percent P&F Breadth indicator of Nifty 50. It has reached 24% hence approaching oversold zone.

Trend has turned down on all time frames. Trailing 'O's is the idea.

 

 

- 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

Bullish & Range bound!!

Date: 16th August 2015

Nifty last closing price: 8518.55

Above image shows last 5 weekly bars. I have been discussing about this neutral and sideways market though overall trend is bullish.

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: Bullish

 

·         Active counts: 8810, 8840

 

Price remained neutral as discussed during last post. It is bullish and range bound on medium term.

 

1 Min Chart (Short term trend)

 

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. Anchor Point levels shown in the last post worked well and price bounced back from 8350. 8600 and 8690 remain reference levels on the higher side. 8400-8420 are significant levels on the lower side.

 

Figure 4 is X-Percent P&F breath indicator of Nifty 50. Last column is bullish of 42% stocks of Nifty 50. And it is coming out from oversold zone which is bullish.

Medium term trend is bullish and higher counts are open but short term trend is range bound. Bullish setup at support levels is an 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.

Nifty P&F analysis

Neutral!!

Date: 9th August 2015

Nifty last closing price: 8564.60

 

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: Bullish

 

·         Active counts: 8810, 8840

 

No significant change in this chart. Price remained range bound as mentioned.

 

1 Min Chart (Short term trend)

 

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. Price remained range bound and 8600 worked well. 8600 and 8690 are reference levels on the higher side. 8480 - 8500 are levels on the lower side where price has seen significant price action in the past. Price is expected to see 8500 on this time frame. 8370 - 8350 is an important area below that.

 

Figure 3 is 1% x 3 P&F chart of Nifty. Bear Trap formation has trailed up Mini Bottom to 7980. Chart is Bullish and higher counts are active.

 

Figure 4 is 0.50% x 3 P&F chart. Buy signal after Bullish broadening formation is a strong pattern. Higher counts are active and close above 8650 would be very interesting. Close below 8330 is long exit signal.

 

Figure 5 is X-Percent P&F breath indicator of Nifty 50. I have mentioned this indicator several times in previous posts. 66% stocks of Nifty 50 are having bullish column at the moment.

 

Overall trend is bullish but recent formation in various charts and matrix number is neutral.

 

 

 

 

- 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

Bullish & Range bound!!
Date: 2nd August 2015

Nifty last closing price: 8532.85

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: Bullish

 

·         Active counts: 8810, 8840

 

Below 8520 Price witnessed sharp fall to 8320. But bounced back again and formed Low Pole bullish formation. I prefer double top buy signal after Low Pole or 100% pole formation to long but one can long at current levels being Low Pole above 45 degree trend line with stoploss placed at column reversal (3 boxes).

 

1 Min Chart (Short term trend)

 

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. Mentioned that 8360 is expected to be seen due to overbought breadth numbers. Price went below 8360 and took support near previous low 8320. Breadth is neutral at the moment and range bound move is expected though trend is bullish. 8415 and 8375 are reference level on lower side. And 8600, 8690 are the key levels to watch on the higher side.

Fig 1: Nifty dly 10 x 3 cl Point & Figure chart



Fig 2: Nifty 1 min 5 x 3 cl Point & Figure chart

 

  

- 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.