![]() Relative strength charts plot P&F of a ratio chart of two instruments. Short-term chart will turn weak below 21400. There has been a smooth run without any bearish pattern in Bank Nifty P&F chart since break out of 18400 that happened during Jan 2017.Ĭounts shown in Bank Nifty 0.50% chart and RS chart during last newsletter are achieved.Ĭurrently, Bank nifty is out-performing Nifty and remain bullish unless it closes below 20800. ![]() Trend will change if price generates a bearish pattern below 9100 as per current levels.īelow are 0.25% and 0.50% three box reversal Point & Figure charts of Bank Nifty showing short and medium term picture. Price is in uptrend, bearish triangle breakout pattern has opened very short-term bearish counts.Currently, Mini-bottom is placed at 8730 and bullish counts are open.There has been a smooth run above average line with series of bullish continuation formations. ![]() Count of 8990 shown during last newsletter is achieved, along with another count of 9130.Chart remain bullish unless price falls below 8550 as per current levels.īelow is 10 x 3 Point & Figure chart of Nifty showing short-term and Medium-term structure It has formed another support pattern at 7980.Price took support at 7014 during Feb 2016 and went above 45 degree bearish trend line drawn from top box price marked during March 2015. ![]() Chart shown below is 1% x 3 Point & Figure chart of Nifty showing long term price setup. ![]()
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