Monday, January 1, 2018

Nifty (Asia India) - Ichimoku Weekly Study - Starry Highs - Start of Week 1 of January 2018






Zoom into Monday's 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 reaches target 10500+, with the 'Three Inside up'.

Index keeps above the Blue Tenkan Sen Support line but make a double top.


Wrap:
Index makes it to 10500+ with help from the Three Inside up 
candle pattern.



Looking Forward into this Week:


Bulls seek to use the current strength to make a dash to another new All Time High (11200+).

Bears see faint hope in the Doji of last week becoming an Evening Doji Star.
Bulls want to make another Higher High a new ATH and maintain the major wave 'Higher High - Higher Low'.


Wrap: 
Bulls seek to use current signals, to keep above the Tenkan Sen and target the 200% Fibonacci (11200+) as marked.

Bears hope to use current resistances to target life below the red line.