Monday, July 24, 2017

Nifty (Asia India) - Ichimoku Weekly Study - 10000 teaser ! - Week 4 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) 

Last week, the Index makes a Doji above the 127% Fibonacci of the last major Hi Lo.
Bulls keep it above the Weekly Support (Tenkan Sen - Blue) and make a new All Time High (ATH).

Bulls make a new ATH, Bears force a Doji.

Looking Forward into this Week:

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

Bears now pray the Doji holds the next resistance (141%).

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

Bears, want life below the Tenkan Sen (blue line) after forcing a Doji last week.