Monday, September 18, 2017

Nifty (Asia India) - Ichimoku Weekly Study - Support Holds - Week 3 of September 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 keeps above support i.e. Tenkan Sen (Blue line - Center) and crosses the 141% Fibonacci. 

Index makes a Higher High.
Last week's candle is an 'Opening White Marubozu'

Index stays above the Tenkan Sen and makes an 'Opening White Marubozu'  Candle last week.

Looking Forward into this Week:

Bulls want to keep up the momentum and  reach the 162% Fibo., after the higher high.

Bears look to move the index below Fibonacci 127% and make a Lower Low.

Bulls intend the keep above the Tenkan Sen and reach the 162% Fibonacci (10521).

Bears seek life below the Tenkan Sen.