Monday, December 11, 2017

Nifty (Asia India) - Ichimoku Weekly Study - A Bullish Harami - Start of Week 2 of December 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 fails to make the target zone 10500, once again, but produces a Bullish Harami.

Bears manage a minor wave Lower High, last week's candle makes a lower low.
Index closes above the Blue Tenkan Sen Support line.


Wrap:
Index closes above the Blue line (Tenkan Sen), produces a Bullish Harami.





Looking Forward into this Week:


Bulls seek to defend the red Kijun Sen, and a stop a fall towards the Kumo.

Bears seek to make another minor wave Lower High and head below the Kijun Sen (red line).
Bulls want to make a Higher High a new ATH and maintain the major wave 'Higher High Higher Low'.


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

Bears hope to make another minor wave, lower high and target life below the red line.