Zoom into chart .. Click
Introduction / Primer to Ichimoku can be read at this link (click).
We have shifted this study to CNX Nifty 50 (India) from from SGX Nifty 50 (Singapore)
Learning from the Earlier Study: (click here for the previous post) (of SGX Nifty)
Bulls stay well above the 'Tenkan Sen' even as two red weekly candles show the impact of the 'Evening Star' (google 'Evening star candle')
Bulls fail to break above the 127% Fibonacci of the last major Hi Lo.
Wrap:
After the recent Evening star, Bears get a second Red Candle, Bulls hold recent lows.
Looking Forward into this Week:
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.
'Evening Star' effect, has been good for the Bears.
Wrap:
Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to stay above the Fibo 113% and aim for 127%.
Bears, hope to get the index below the Tenkan Sen (blue line) with help from the 'Evening Star'.
