The Chikou span is the lagging indicator component of the Ichimoku Kinko Hyo candlestick trading model.A Chikou span that is currently trading below where prices were 26 periods ago indicates a downtrend
The tenkan sen/kijun sen cross is one of the most traditional trading strategies within the Ichimoku Kinko Hyo system. If the tenkan sen crosses below the kijun sen, then that is a bearish signal.
The Kumo is typically looked at in terms of support and resistance; if it is thick, then the support/resistance is strong. If the price is below the Kumo, then it is under resistance and it is better to be looking for shorts instead of longs.
The only one thing which can help is that one trendline which is actict as support if it is broken I am expecting good fall in Hero motors.
Overall stock is looking Bearish to me. This is my personal view No Buy or No Sell call.
NOTE - There is news about the 100cc vehicle from Karnataka court dont know how the stock will react to it.... Happy Trading
Not a good idea to trade short when the kijun is flat like that...
razultull
⋅
@razultull, let me clarify, there was actually short here once the price punched down through kijun to the downside. But at this point not sure...maybe if there’s a pullback to the kijun and then a bounce.
CPR_Trader
⋅
@razultull, thank you sir for your insight I will keep it in mind..... but if Tenkan crosses Kijun (down) then is it short position...?