Jeremy du Plessis, Head-Technical Analysis and Product Development at Updata explains to CNBC-TV18's investors what point and figure charts are.
Although experts feel that the Nifty is in a downtrend, but they don’t see a major correction in the near-term.
Jeremy du Plessis, head of technical analysis and product development at Updata Limited believes that S&P is still in an uptrend that began in May 2009. "The upside target on the S&P is at 1485," he said adding, "…but it could go down to 1048 if 1102 doesn't hold."