Monday, July 31, 2017

Nifty (Asia India) - Ichimoku Weekly Study - 10000 !!! - Week 1 of August 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) 

Bulls settle above the psychological 10K. 
Index almost makes a Bearish Shooting Star at the 141% 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 10K. Bears had a Bearish Shooting star candle, for the week, in mind.

Looking Forward into this Week:

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

Bears now pray the 'Almost' Bearish Shooting Star candle, holds the index below Fibo 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 are desperate for life below the Tenkan Sen (blue line).