Howdy Traders , The Ichimoku cloud was evolved by Goichi Hosoda, utilization of Ichimoku Kinko Hyo 1.identify support & resistance 2.momentum 3.Find trend direction Parts of ichimoku cloud 1.kejun sen 2.Teken sen 3.senkou span A 4.senkou span B 5.kumo cloud 6. chikou ( we will learn in part 2 ) Happy...
It is on the verge of an IHS breakout in weekly time frame above 112. V good support between here to 95. The Inverse Head & Shoulder upside levels are 150 / 175 / 200 over the medium term.
The daily time frame is giving a breakout signal today, the weekly time frame will confirm it above 1550 (closing basis ). In that case the most laggard among all sectors will turn out to be a top out performer for moves towards 1900 and then 2300 . Short term support at 1450/1375 . Watch out for this sector is coming out of a v long bear phase screaming Apna...
Crude oil has given a fresh breakout after weeks of consolidation. This breakout could test $ 45, 48 & 51 (INR 3250, 3500 & 3800) provided it does not retrace beyond $41.30 (3070)
DJIA is at the PRZ of a Bullish Harmonic Pattern AB=CD which coincides with the Ichimoku support both weekly as well as daily. Failure to hold 26000 will trigger a medium term correction in it. For now resistance at 26800/27100/27500.
It continues to take support on any dip near its Kijun (Ichimoku Analysis) support regularly making higher highs and higher lows. This time too its attempting a resumption of trend which might take it to 1475 / 1525 if it manages to hold above 1375 on hourly basis. Ichimoku is a Japanese study based on Moving Averages wherein the alignment of certain specific ones...
It appears to have completed its counter trend of a major counter trend. As long as it holds 9725 on closing basis it could now resume a trend for 10500/11250. Double confirmation would be a close above 9970
After reversing from a Bullish Harmonic Shark, it has activated a Bullish Harmonic Dragon which suggest probable levels of 1225 and 1350. It has very good support at 1080-1070. View would be negated below 1035
It has reversed from a Bearish Harmonic Deep Crab which also coincides with a Weekly Ichimoku resistance. It could retest 540/515 if it fails to sustain above 580
Nifty is at the PRZ of a Bearish Harmonic Alt Shark in hourly time frame. If it fails to cross 9200 it might retest 8700-8600 and then it could resume this bounce rally from the monthly Bullish Harmonic Alt Shark for a 50% retracement till 9600-9800.
It has given a diagonal breakdown which indicates 4900/4400 as possible areas before any major respite comes. On the other hand immediate resistance is at 6250 above that 6800.
It is forming a Bullish Harmonic Dragon which suggests levels of 260/285, double confirmation above 238. View would negate below 215. As per Ichimoku analysis also 438 is the hurdle for the up move.
Nifty is still trying to establish a Higher Low post Sept 20 vertical move. Expecting the range now to get squeezed between 11400 on the upside to 11100 max 10900 on the downside. Smallish bounce possible if the Bullish Harmonic AB=CD sustains near 11100. Out of the woods only above 11400
Weekly range 11300-11750. Narrower range 11375-11625. Looks more likely to be a range bound week than a trending week.
Nifty is trading near daily support of 10925. If it fails to hold 10850 (closing basis) then next major support comes in close to 10400. Above 11000 we can expect short covering / rally till 11125/11250 with major resistance at 11350.
It is trading near daily Kumo near a Bullish Harmonic Shark and Bullish AB=CD. A bounce back to Kijun at 2220 and more towards 2275 could be possible. View negates below 2120.
It is doing a retracement of the current rally and could test Daily Kijun near 1200. View would negate if it moves above 1275
Slanting Channel set-up. It appears to be near a strong resistance now between 1620-1625. Expecting a pullback till 1575 and then 1525. View would go wrong if it sustains above 1645