Monday, February 26, 2018

Nifty (Asia India) - Ichimoku Weekly Study - Channel Bottom, Holds a Doji - End Week of February 2018 chart > Click

Introduction & Primer to Ichimoku can be read at this link > click.


Index again takes Support at Channel Bottom near the 162% Fibonacci (of the 2015 low to 2016 high).
Index keeps above the Red Kijun Sen Support (10434), last week, with a Doji Candle > Link.


Bulls hope to hold above the cluster of support lines shown.
Bears want to force a lower low, after closing below the red support line (10434, seen above).


Bulls seek to use current support and  Doji, to keep above the Kijun Sen and target the 200% Fibonacci once again.
Bears, seek to keep up the momentum, with a 'lower low' (sub 10033).