Monday, November 13, 2017

Nifty (Asia India) - Ichimoku Weekly Study - Target Zone retreat - Start of Week 3 of November 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) 

Index retreats at the target zone 10500. 

Bulls retain Higher High and Higher Low.
Current Support, the Tenkan Sen moves up - index above support.

Index retreats near target zone, the Fibonacci 162% (of last major Hi Lo) marked above

Looking Forward into this Week:

Bulls want to restart the momentum and  reach the 162% Fibonacci, after the higher high and higher low.

Bears seek to make a Lower Low and head towards the Tenkan Sen (blue line).
The Bears expect the index to get shy near the target and hope for a red week. 

Bulls intend to keep above the Tenkan Sen and reach the 162% Fibonacci (10500+) as marked

Bears hope the deliberation in the Target Zone, turns into a full fledged fall..