Monday, November 6, 2017

Nifty (Asia India) - Ichimoku Weekly Study - Target Zone - Start of Week 2 of November 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 at the target zone 10500+. 

Bulls retain honors for a Higher High and Higher Low.
Ichimoku Signals all move up in concert.

Index takes off above the Tenkan Sen and is near target the Fibonacci 162% (of last major Hi Lo) marked above

Looking Forward into this Week:

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

Bears need to make a Lower Low and head towards the Tenkan Sen (blue line).
The Bears expect the index to get shy near the target and hope for a red week. 

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

Bears pray for a pause or deliberation in the Target Zone.