Monday, July 17, 2017

Nifty (Asia India) - Ichimoku Weekly Study - 10000 anyone? - Week 3 of July 2017.

Zoom into chart .. Click 

Introduction / Primer to Ichimoku can be read at this link (click).

Learning from the Earlier Study: (click here for the previous post) 
Bears fail to defend the 127% Fibonacci of the last major Hi Lo.
Bulls take off from the Weekly Support (Tenkan Sen - Blue) and clear the 127% Fibonacci of the last major Hi Lo - to make a new All Time High (ATH).

Bulls make a new ATH after clearing the resistance at the 127% Fibo. retrace..

Looking Forward into this Week:

Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move going.

Bulls make new All Time High.
Bears now pray the next resistance (141%) holds.

Bulls riding above the 'Tenkan Sen', for the last 25+ weeks, want to reach the 162% Fibo. retrace of the last major Hi Lo (around 10500)..

Bears, pray for life below the Tenkan Sen (blue line).