CHART STUDY THROUGH POINT AND FIGURE

         

Dear all

In last week as I was expecting  that nifty should come down till 6130-6140 and its happened . And finally nifty had taken low of 6120  and closed around 6140..Now  I Am expecting that nifty should take support of 6120-6130 and from there it may bounce till 6225-6250 , This is my assumption . So if any one who is taking long position then can follow stop loss of below  6070 (intraday) or below 6100 on closing basis...  but  If nifty able to close below 6100 then aggressive trader can go short with column reversal of fifty point stop loss  . if you will see In HIGH-LOW method of point and figure technique than you will see any tick below 6070 can give short sell indication .

In simple word below 6100 (closing basis) and below 6070 (HIGH-LOW METHOD) will generate double bottom sell signal with High pole….So one can think short sell with fifty point stop loss…

BUY REC BETWEEN 206-208 SL 200 TGT 216 , 232...

Regards

Raju Ranjan

9975606284