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.

Nifty P&F analysis

Mixed - Overbought!!
Date: 26th July 2015

Nifty last closing price: 8521.55

Daily chart (Medium - Intermediate trend)

 

Figure 1 is 10 box P&F chart plotted with daily closing prices.  

 

·         Last Pattern: Double Top Buy (Bullish)

·         Last Column: Bearish

 

·         45 degree trend: Bullish

 

·         Active counts: 8810, 8840

 

·         Long exit level: 8520

 

Long exit level will be trailed up with every formation of 'X. Double bottom sell signal & Bull Trap will be formed if price closes below 8520.

 

1 Min Chart (Short term trend)

 

Figure 2 is 5 box P&F chart plotted with closing prices of every minute.

8490-60 seems support zone when we look at left for previous peaks & troughs. Anchor Point is at 8360 on the lower side which is a key area and expected to be seen. 8690, 8840 are the reference levels on 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.

Nifty Point & Figure analysis

Date: 19th July 2015

Nifty last closing price: 8609.85

Daily chart (Medium - Intermediate trend)

Figure 1 is 10 box P&F chart plotted with daily closing prices.  

 

·         Last Pattern: Rising bottom Double Top Buy (Bullish)

 

·         Last Column: Bullish

 

·         45 degree trend: Bullish

 

·         Active counts: 8810, 8840

 

·         Long exit level: 8470

 

Long exit level will be trailed up with every formation of 'X.

 

1 Min Chart (Short term trend)

 

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. Reference levels for higher side are 8690 and 8840 which also coincide with the higher timeframe levels hence formations around these levels would be interesting. Levels to looks at lower side are 8460 and 8350.

 

Bullish percent is at 58% and X-percent is again at 82%. So market is moving again to overbought territory for short term traders though momentum is strong.

 



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.

Nifty Point& Figure analysis

Neutral !!

Date: 12th July 2015

Nifty last closing price: 8360.55

Daily chart (Medium - Intermediate trend)

 

Figure 1 is 10 box P&F chart plotted with daily closing prices.  

 

·         Last Pattern: High Pole (Bearish)

 

·         Last Column: Bullish

 

·         45 degree trend: Bullish

 

·         Active counts: 8810, 8840

 

Long exit level of 8400 (High Pole) is triggered hence trade position is neutral at the moment. Fresh 'X' is signal to trade long. Close below 8300 will be bearish and open count of 8140.

 

1 Min Chart (Short term trend)

 

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. Sustenance above 8375 is bullish and 8270, 8130 are reference levels if price corrects more.

 

Bullish percent is at 54% and X-percent has come down from 80% to 52% which has made market back to neutral. It was the reason I was mentioning overbought market since last 2 weeks.

 

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.

Nifty Point & Figure analysis

Remain Bullish & Overbought!!

Date: 5th July 2015

Nifty last closing price: 8484.90

Daily chart (Medium - Intermediate trend)

 

Figure 1 is 10 box P&F chart plotted with daily closing prices.  

·         Last Pattern: Bear Trap, Bullish engulfing (Bullish)

 

·         Last Column: Bullish

 

·         45 degree trend: Bullish

 

·         Long exit level: 8400 (High Pole)

 

·         Active counts: 8810, 8840

 

1 Min Chart (Short term trend)

 

Figure 2 is 5 box P&F chart plotted with closing prices of every minute. Trend is bullish but at resistance. Anchor Points placed at 8270 and 8130 levels are reference levels if price corrects from here.

 

Bullish percent is at 54% and X-percent is at 80%.

 



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.