ChartInk, Technical charts provider for Indian Markets, has just launched India’s first Point and Figure Charts on the Web. They are the oldest Charts used by Technical Analyst

Point and figure is a charting technique, is used to attempt to predict financial market prices. Point and figure charting is unique in that it does not plot price against time as all other techniques do. Instead it plots price against changes in direction by plotting a column of Xs as the price rises and a column of Os as the price falls.

Designed for long-term investment, point and figure (P&F) charts have been described as one of the simplest systems for better determining solid entry and exit points in stock market trading. The system monitors supply and demand of each issue while keeping a keen eye on developing trends. While point and figure charting has never been on the top of the list of popular techniques used by technical analysts, there is a growing interest in P&F from all corners of the charting community

The technique is over 100 years old. “Hoyle” was the first to write about it and showed charts in his 1898 book, The Game in Wall Street. Richard Wyckoff also described the technique with charts in his 1910 classic, Studies in Tape Reading.

To View the Charts, visit: http://chartink.com/pandf.php?name=NIFTY